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President Joe Biden is headed to Ohio Friday morning (September 8) for the groundbreaking at the $20 billion Intel semiconductor site, according to Cleveland-19 News.
President Biden will join Governor Mike DeWine and Intel executives in Licking County for the groundbreaking at the company's historic semiconductor manufacturing site. According to Intel, they will built two state-of-the-art manufacturing facilities in central Ohio by the year 2025. The project is the largest single private sector company investment in Ohio's history.
While the two facilities will be located in Licking County, the impact is expected to be felt throughout Ohio. According to the governor's office, about $2.8 billion is expected to be added to the state's annual gross product. The chips manufactured at the plant can be used in various products, including cell phones, appliances and vehicles.
The event comes about a month after President Biden signed the CHIPS and Science Act into law. The CHIPS and Science Act of 2022 is a bipartisan law that focuses on federal aid to encourage the construction of microprocessor manufacturing facilities in the United States, according to the National Governors Association. The goal is to reduce the United States' reliance on overseas chip supply chains and to boost the nation's science and technology base.