"President Biden Announces $8.5B Investment in Intel's Chip Plants Across Four States"
Originally Published 1 year ago — by NBC News
The Biden administration has secured a deal 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, aiming to boost domestic chip production and create jobs. President Biden plans to highlight the investment as a key economic policy achievement, particularly in swing states. The funding is part of the bipartisan 2022 CHIPS and Science Act and is intended to address national security and economic concerns related to chip production.