State officials hope Intel CEO Pat Gelsinger’s retirement will not impact the chip manufacturer’s $20 billion plan for central Ohio.
While Gelsinger officially retired after 40 years with the company and stepped down from the board of directors, several national media outlets reported he was forced out by the board as the chipmaker has struggled in the past several months.
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After delays and lobbying from business groups around the country, the U.S. Department of Commerce and Intel announced a deal Tuesday morning to release nearly $8 billion in direct CHIPS Act funding.
The $7.86 billion directly impacts Intel’s commercial semiconductor manufacturing and advanced manufacturing projects in Ohio, Arizona, New Mexico and Oregon.
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The Ohio Chamber of Commerce and nearly 20 business groups from four states want the Biden administration to start handing out money from the CHIPS Act immediately.
In a letter, the groups from Ohio, New York, Oregon and New Mexico want the money distributed now. Intel has said the money is critical to its plan for the ongoing development of its massive manufacturing facility in central Ohio that could lead to 3,000 direct jobs and thousands of other related jobs.
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Arizona Gov. Katie Hobbs is not concerned that Intel’s planned global layoffs could have an impact on the state.
“They’re expanding here. We’re thrilled to have their expansion here. We’re working with them on workforce initiatives to grow the skilled pipeline of workers that they need. We’re continuing to do that,” she told The Center Square at a media availability on Tuesday.
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Intel is starting up a workforce development program with some help of the state of Arizona in order to bolster the state’s growing semiconductor industry.
The program is meant to train people to become manufacturing facility technicians in a formal apprenticeship, the first of its kind in the United States from the technology company. According to a news release, the apprenticeship will feature educational components from the Maricopa County Community College District.
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The U.S. Department of Commerce and Intel Corporation reached a non-binding preliminary memorandum of terms to offer up to $8.5 billion in direct funding via the CHIPS and Science Act to the company in hopes of creating jobs and logic chips in four states.
Intel plans to invest over $100 billion in the United States over the next five years. It also plans to expand its operations in Arizona, New Mexico, Ohio, and Oregon, which it estimates will create over 10,000 manufacturing jobs and nearly 20,000 construction jobs, according to a statement from the U.S. Department of Commerce.
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Intel’s first required progress report shows a $1.5 billion expenditure and another $3 billion committed to what Ohio officials call the largest single private-sector investment in state history.
The report, submitted to the Ohio Department of Development, is part of $2 billion in incentives for the two planned microchip manufacturing facilities in Licking County, including taxpayer-funded grants and tax incentives.
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National security experts are raising concerns over CIA Director William Burns’ previous involvement with a D.C. institution that employed numerous Chinese Communist Party members, in light of his efforts to reorient the agency toward addressing the threat from China.
Recent reports have shed light on the historic shift underway at the U.S.’ most expansive intelligence directorate to rebuild a network of human spies in China, and outpace Beijing’s adaptation to a rapidly changing technological environment. However, Burns previously headed a think tank that hired people and groups professing membership to the Chinese Communist Party (CCP), a fact that experts say raises red flags about Burns’ credibility.
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Google announced on Wednesday the addition of two new data centers in central Ohio.
According to the firm, one of the centers will be constructed in Lancaster and the other on South High Street in South Columbus, bringing Google’s total investment to date in the state to over $2 billion. According to Google, it has generated nearly $13 billion in economic activity for businesses and nonprofits.
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Following Governor Mike DeWine’s State of the State address in the Ohio House chamber on Tuesday, Ohio lawmakers in the House and Senate voiced their opinions.
DeWine centered his address on his budget proposal. The proposal will be presented in the Ohio House in the near future as a piece of legislation that the Ohio General Assembly will need to approve.
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Ohio Governor Mike DeWine (R) on Sunday signed legislation allowing Ohioans who acquired occupational licenses in other states to utilize their credentials in the Buckeye State.
Eighteen states, including neighboring Pennsylvania, already recognize occupational licenses that their residents received elsewhere. For years, a coalition of free-market organizations, including the Columbus-based Buckeye Institute, have urged Ohio lawmakers to adopt the same policy to ease burdens on workers and make the state more economically competitive.
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An Ohio nonprofit policy research group criticized state approval of up to $650 million in tax breaks for Intel’s $20 billion project in central Ohio, saying the money could be used for schools or seniors rather than large corporations.
Policy Matters Ohio, a Cleveland-based research group, called the Ohio Tax Credit Authority’s approval earlier this week of the incentives a missed opportunity and challenged the state’s openness and accountability.
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Speaking on Friday at the groundbreaking of Intel’s new semiconductor factory in Licking County, Ohio, President Joe Biden said that “it’s time to bury the label ‘rust belt…’” when describing the region in which he stood.
The ‘rust belt’ is a term often used to denote an area extending from western New York through the midwest that saw heavy industrial activity from the late 19th century to the mid-20th century, particularly concerning steel production and automobile manufacturing. The region suffered significant economic decline by the late 20th century and many communities therein have struggled since.
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Although dirt began moving weeks ago at Intel’s massive $20 billion chip manufacturing site in central Ohio, local, state and federal officials, along with President Biden, praised Intel’s decision and the government incentives offered to lure the chip giant at a groundbreaking ceremony Friday.
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When President Biden signed the CHIPS Act into law Tuesday, it most likely meant a third round of government incentives for Intel and it’s planned $20 billion semiconductor plant in central Ohio, leaving some concerned with the amount of taxpayer money being funneled to the company.
The signing opened $52 billion to companies producing semiconductor chips and another $10 billion to create regional technology hubs across the country. That’s on top of at least $2 billion in initial state incentives for Intel, and an unknown second round of state money.
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Ohio Attorney General Dave Yost, joined by a bipartisan group of his counterparts in other states, urged action from Congressional leaders on legislation to encourage the production of microchips.
Because of the technological reliance on the product, Yost argued that microchips should become a national priority in order to reduce foreign reliance.
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Democratic Connecticut Sen. Richard Blumenthal disclosed in early March that an investment fund managed by his wife’s family purchased between $250,000 and $500,000 worth of Intel stock. A little over three weeks later, he voted for legislation handing billions in subsidies to semiconductor manufacturers that could benefit Intel.
The senator’s actions seem to indicate a conflict of interest, congressional watchdogs told The Daily Caller News Foundation. Blumenthal’s financial interests appear intertwined with companies he oversees, they said.
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Jim Renacci, a former congressman and candidate running for Ohio governor, knocked President Joe Biden over his discussion of Intel during his State of the Union address.
In the address, Biden connected future investments made by the company to legislation that would increase funding for semiconductor manufacturing.
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In December, the United States, United Kingdom and Australia all announced diplomatic boycotts against the 2022 Beijing Winter Olympics, and since then, several other nations around the world have joined the boycott.
A diplomatic boycott means that government officials from those nations will not attend the Olympic Games. This sent an important message to the citizens of those countries that attending the games even as spectators is immoral and at odds with the spirit of their own nation.
The Chinese Communist Party knew this, and in a preemptive attempt to avoid the embarrassment of empty bleachers, it made a decision on Jan. 17 not to sell spectator tickets to people from outside China’s mainland, and invite in controlled groups instead.
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Ohio government leaders say nearly $2 billion in incentives and tax breaks given to Intel to build a $20 billion manufacturing facility outside of Columbus will come back to benefit the state.
Ohio Department of Development Director Lydia Mihalik said Friday that Intel will receive a $600 million grant for building its two plants, plus another $691 million in infrastructure development. The company also will be eligible for another $650 million in job creation tax credits over 30 years.
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Computer giant Intel Friday officially announced its intention to build a multi-billion dollar semiconductor factory in Ohio.
“Intel today announced plans for an initial investment of more than $20 billion in the construction of two new leading-edge chip factories in Ohio,” a corporate press release said. “The investment will help boost production to meet the surging demand for advanced semiconductors, powering a new generation of innovative products from Intel and serving the needs of foundry customers as part of the company’s IDM 2.0 strategy. To support the development of the new site, Intel pledged an additional $100 million toward partnerships with educational institutions to build a pipeline of talent and bolster research programs in the region.”
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U.S. technology company Intel scrubbed all mentions of forced labor in Xinjiang, China, from its letter to suppliers after receiving stiff backlash from China.
Intel sent a letter written by vice president Jackie Sturm to suppliers in December 2021, urging them to avoid sourcing from the Xinjiang region, home to China’s Uyghur Muslim minority, citing the company’s forced labor policies.
“Multiple governments have imposed restrictions on products sourced from the Xinjiang region,” Sturm wrote. “Therefore, Intel is required to ensure our supply chain does not use any labor or source goods or services from the Xinjiang region.”
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U.S. chip maker and technology company Intel apologized to its Chinese business partners and customers Thursday after telling its suppliers to avoid sourcing from the Xinjiang region of China.
Intel sent a letter to suppliers earlier this month urging them to avoid products, labor and materials from Xinjiang, home of China’s Uyhgur Muslim minority. The letter, written by Intel’s Jackie Sturm, vice president and general manager of global supply chain operations, said Intel had an expectation that suppliers were “prohibiting any human trafficked or involuntary labor” in their supply chains.
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Intel Corp. broke ground on two new semiconductor fabrication factories in Chandler, Arizona on Friday, as part of its plan to become a major chip manufacturer for outside customers.
The $20 billion plants, Fab 52 and Fab 62, are expected to bring more than 3,000 new high-tech, high-wage jobs and 3,000 construction jobs to Arizona, while supporting an estimated 15,000 additional indirect jobs in the community, according to a press release from the governor’s office. This marks a 25% increase in Intel employees.
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Reuters Intel Corp Chief Executive Brian Krzanich resigned on Thursday after a probe found his consensual relationship with an employee violated company policy. The head of the largest U.S. chipmaker is the latest in a line of powerful men in business and politics to lose their jobs or resign over relationships viewed as inappropriate, a phenomenon highlighted by the #MeToo movement. “An ongoing investigation by internal and external counsel has confirmed a violation of Intel’s non-fraternization policy, which applies to all managers,” Intel said in a statement. The board named Chief Financial Officer Robert Swan as interim CEO and said it has begun a search for a permanent CEO, including both internal and external candidates. Intel declined to give any further information about the probe. Intel shares fell 1.5 percent in early trade. Wall Street took Krzanich’s unexpected departure in stride. “Although we respect Krzanich’s efforts in redirecting Intel’s strategy from a computer-centric to a data-centric company, we view Intel as a process-driven company with a deep bench of CEO candidates that can continue to drive the corporate strategy,” said Kevin Cassidy, an analyst at Stifel. Krzanich, 58, was appointed Intel CEO in May 2013, and was in charge…
Read the full storyThe centerpiece of Intel’s booth at the recent National Retail Federation show in New York City was undoubtedly the massive Mach 2XS commercial printer by Japanese manufacturer Shima Seiki. At nearly 3 meters wide and 1.37 meters tall, the printer was hard to miss. The small crowd that had gathered around it though, was more interested…
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