CHIPS funding would support Intel manufacturing in four states.
The Commerce Department announced that it has reached a preliminary agreement with Intel Corporation, offering the company $8.5 billion to re-establish semiconductor manufacturing facilities in the United States. Both parties have reviewed a non-binding preliminary memorandum of terms that proposes expanding Intel research and manufacturing capabilities in Arizona, New Mexico, Ohio, and Oregon.
“With this agreement, we are helping to incentivize over $100 billion in investments from Intel – marking one of the largest investments ever in U.S. semiconductor manufacturing, which will create over 30,000 good-paying jobs and ignite the next generation of innovation,” said Commerce Secretary Gina Raimondo. “This announcement is the culmination of years of work by President Biden and bipartisan efforts in Congress to ensure that the leading-edge chips we need to secure our economic and national security are made in the U.S.”
As the Lord Leads, Pray with Us…
- For the president and his administration as they seek to increase domestic production of technology to safeguard national security.
- For Secretary Raimondo to receive God’s guidance as she heads the Commerce Department.
Sources: Department of Commerce
