U.S. President Joe Biden hailed Intel Corp’s recent announcement that it will construct a $20 billion factory outside Columbus, Ohio, creating 7,000 construction jobs and an additional 3,000 permanent jobs as ‘just the beginning’.
Intel Corporation chief executive Pat Gelsinger told the World Economic Forum in Davos they will soon be ramping up capacity to ensure global semiconductor demand is met.
“We will now be building a resilient global supply chain for something that is more important to our future than where the oil reserves are: the chips. That is becoming more to humanity and every aspect of digitisation of everything,” Gelsinger said.
“We announced multiple new firms last year. I am looking forward to announcing our next mega site in the US very shortly, and doing so in Europe very shortly. It’s that important to the future of the industry and to the economy.”
Intel is the latest semiconductor company to announce expansion plans in the U.S. amid a global shortage of the chips used in phones, cars and video games. Biden said the announcement shows the U.S. is “in a better position than any nation…to seize these opportunities,” and he hailed the passage of his bipartisan infrastructure legislation as one of the reasons.
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