Tag: Intel

CHIPS Act Sends $8.5 Billion to Intel for Production in Ohio and Other States

The Center Square
Joe Biden Intel

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 Issues First Ohio Progress Report on $1.5 Billion Facilities

The Center Square

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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Experts Raise Concerns over History of CIA Director Overseeing Intel Push into China

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William Burns

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 Announces Addition of Two New Data Centers in Central Ohio

Hannah Poling

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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Ohio Enacts Universal Occupational License Recognition

Bradley Vasoli

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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Policy Group Says Intel’s Ohio Tax Breaks Could Be Better Spent

The Center Square

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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Biden in Ohio: ‘Bury’ the ‘Rust Belt’

Bradley Vasoli

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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Policy Group Questions Incentive Packages for Ohio’s Intel Plant

The Center Square

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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Sen. Blumenthal’s Family Splurged on Intel Stock Before He Voted for a Massive Subsidy Bill

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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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Commentary: Don’t Watch the 2022 Beijing Winter Olympics

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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 Offers $2 Billion in Incentives to Land Intel Facility

The Center Square

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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Intel Officially Announces Chip Factory in Ohio

Peter D'Abrosca

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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Intel Bends Knee to China, Scrubs All Mentions of Xinjiang Forced Labor from Letter

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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. Tech Giant Apologizes to China After Telling Suppliers to Avoid Products from Xinjiang

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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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Chip Company Intel Begins Construction in Arizona on New Plants, New Jobs Created

The Center Square

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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Intel CEO Resigns After Probe Into Relationship With Employee

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Brian Krzanich

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…

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Retailers Explore 3D Printers, Flashy Tech

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The 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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