wsj.com/amp/articles/intel-delays-groundbreaking-ceremony-for-ohio-plant-amid-uncertainty-over-chips-legislation-11656004874
Intel delays groundbreaking ceremony for multibillion-dollar chip-manufacturing facility. Company still plans to build the Ohio chips facility, but frustrated about status of proposed law. Ceremony had been tentatively scheduled for July 22. Intel: Uncertainty in Congress about legislation that would provide support for chip industry.

Intel delays groundbreaking for multibillion-dollar chip-manufacturing facility in Ohio. Ceremony had been tentatively scheduled for July 22. Intel frustrated over uncertainty in Congress about legislation that would provide support for U.S. chip industry. Intel informed the office of Ohio Gov. Mike DeWine and members of Ohio’s congressional delegation.

Intel said it was delaying the groundbreaking “due in part to uncertainty around’ the chips-related legislation. Intel still plans to build the facility and hasn’t pushed back the start of construction, a spokesman said. The legislation is known as the Bipartisan Innovation Act.

The groundbreaking is ceremonial, but the decision to delay is a sign of Intel’s frustration. The company said in its announcement that spending on the Ohio project could reach around $100 billion over the next decade. Intel said it intended to invest at least $20 billion in the Ohio facility, with construction expected to begin in late 2022.
Posted by
ashcrofts
Tap to copy the Short Url to this post:
bto.sh/nd96vdgq 
One-Stop Business News. Free to Use →