Biden signs CHIPS Act, paving way for Intel buildout of New Albany site – By Mark Williams (The Columbus Dispatch) / Aug 9, 2022
The CHIPS Act has officially become law and with it, the potential of New Albany becoming the site of the world’s biggest semiconductor manufacturing operations.
President Joe Biden signed the bill into law Tuesday morning in a ceremony on the South Lawn of the White House in front of politicians and business, labor and educational leaders. The law provides $52.7 billion in aid to the semiconductor industry along with other incentives.
In January, Intel announced plans to spend $20 billion to build two plants in New Albany that will employ 3,000 workers earning on average $135,000 per year. But it said with federal aid, the site could have eight factories and a total investment of $100 billion.
Though Intel has yet to hold a formal groundbreaking ceremony, excavation work has started at the site.
