The funding will go to computer chip plants in Arizona, Ohio, New Mexico and Oregon, and help support 30,000 new jobs.
The Biden administration has reached an agreement to provide Intel with up to $8.5 billion in direct funding and $11 billion in loans for computer chip plants in Arizona, Ohio, New Mexico and Oregon. Intel said the new funding, as well as additional investments, will create a combined 30,000 manufacturing and construction jobs.
The lingering impact of inflation hitting a four-decade high in 2022 has hurt the Democrat, who had a 52% approval on the economy in July 2021.Investing in U.S. chip manufacturingThe Biden administration helped shepherd the CHIPS Act through Congress at a time of concerns after the pandemic that the loss of access to chips made in Asia could plunge the U.S. economy into recession.
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Biden to tout government investing $8.5 billion in Intel's computer chip plants in four statesThe Biden administration has reached an agreement to provide Intel with up to $8.5 billion in direct funding and $11 billion in loans for computer chip plants in Arizona, Ohio, New Mexico and Oregon.
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Biden to tout government investing $8.5 billion in Intel's computer chip plants in four statesThe Biden administration has reached an agreement to provide Intel with up to $8.5 billion in direct funding and $11 billion in loans for computer chip plants in Arizona, Ohio, New Mexico and Oregon.
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Biden to tout government investing $8.5 billion in Intel's computer chip plants in four statesThe Biden administration has reached an agreement to provide Intel with up to $8.5 billion in direct funding and $11 billion in loans for computer chip plants in Arizona, Ohio, New Mexico and Oregon.
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Biden to tout government investing $8.5 billion in Intel's computer chip plants in four statesThe Biden administration has reached an agreement to provide Intel with up to $8.5 billion in direct funding and $11 billion in loans for computer chip plants in Arizona, Ohio, New Mexico and Oregon.
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