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Intel Delays Groundbreaking Ceremony for Ohio Plant Amid Uncertainty Over Chips Legislation

Intel Delays Groundbreaking Ceremony for Ohio Plant Amid Uncertainty Over Chips Legislation #Intel #Delays #Groundbreaking #Ceremony #Ohio #Plant #Uncertainty #Chips #Legislation Welcome to JibGlobe, here is the new resources we have for you today:

WASHINGTON—

Intel Corp.

INTC 0.08%

has told lawmakers and officials that it is delaying indefinitely the groundbreaking ceremony for a planned multibillion-dollar chip-manufacturing facility in Ohio, signaling frustration over uncertainty in Congress about legislation that would provide support for the U.S. chip industry.

The ceremony had been tentatively scheduled for July 22. Intel informed the office of Ohio Gov.

Mike DeWine

and members of Ohio’s congressional delegation on Wednesday that it was delaying the groundbreaking “due in part to uncertainty around” the chips-related legislation, known as the Bipartisan Innovation Act, according to an email reviewed by The Wall Street Journal.

Intel still plans to build the facility and hasn’t pushed back the start of construction, said Intel spokesman

Will Moss.

Intel, which announced the plant plans in January, said it intended to invest at least $20 billion in the Ohio facility, with construction expected to begin in late 2022 and production to start in 2025.

The company said in its announcement that spending on the Ohio project could reach around $100 billion over the next decade, but that the expansion depends in part on progress on the U.S. chips legislation.

While the groundbreaking is ceremonial, the decision to delay is a sign of Intel’s frustration over the chips legislation, which includes about $52 billion in funding for expanding domestic semiconductor production and research and development. House and Senate negotiators are considering the funding, often referred to as the CHIPS Act, as part of broader proposed legislation on innovation that proponents say is necessary for national security. Intel has been lobbying heavily for the legislation.

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