American multinational company, Intel will invest $20 billion on two new advanced microchip plants in Ohio, USA, its first step towards the $100 billion “mega-site” that can accommodate eight chip factories.
The new investment is part of the company’s expansion of its factories in the US and Europe as it strives to support the world amid an ongoing shortage of microchips and semiconductors.
According to an official release, the planned investment on the 1,000-acre site in Licking County, just outside of Columbus, Ohio, is expected to create 3,000 permanent jobs and 7,000 construction jobs.
Intel provides microprocessors for Original Equipment Manufacturers (OEMs) such as Acer, Lenovo, HP, and Dell. It is also a manufacturer of motherboard chipsets, network interface controllers and integrated circuits, flash memory, graphics chips, embedded processors and other devices related to communications and computing.
Chip manufacturers around the world are trying to boost the output after the chip shortage was reported in the market. Intel is also trying to win back market share from the current global leader Taiwan Semiconductor (TSM).
Earlier, Intel broke ground for two new factories in Arizona as part of its plan to become a major manufacturer of microchips for outside customers. The $20 billion plants will bring the total number of Intel factories at its campus in Phoenix, Arizona to Six.
Planning for the two new factories in Ohio will begin immediately, with construction expected to start later this year and production expected to begin in 2025, Intel added.
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