President Joe Biden discussed the importance of American manufacturing by highlighting a recent development happening in Ohio during his State of the Union address Tuesday evening.The president said it's crucial to invest money in technologies and American manufacturing to bring more jobs to the United States and to level the playing field with China. According to Biden, there's a "bipartisan innovation act sitting in Congress that will make record investments in emerging technologies and American manufacturing." He is referring to legislation that would provide billions of dollars for domestic semiconductor production.Biden then provided an example of American manufacturing by pointing at Intel in Ohio, which is building a $20 billion Ohio chip facility amid a global shortage. The microprocessors are used in everything from phones and cars to video games.Intel said two planned factories, or fabs, will support its own line of processors as well as its new “foundry” business, which will build chips tailored for other firms.The investment outside Columbus in central Ohio is unique and unlike other forms of economic development, said Intel CEO Patrick Gelsinger. The chips built there will not just reduce supply chain pressures, but be part of national security and bring more tech jobs into the region.Biden called the 1,000-acre site in Licking County a "Field of Dreams" and called it "the ground on which America's future will be built."The plants are expected to create 3,000 Intel jobs and 7,000 construction jobs over the course of the build."Some of the most sophisticated manufacturing in the world to make computer chips the size of a fingertip that power the world and our everyday lives," Biden said talking about the work Intel will do.The president mentioned Intel's CEO, Pat Gelsinger, was in attendance at the State of the Union address Tuesday night. He said Gelsinger told him they are ready to increase their investment from $20 billion to $100 billion."That would be one of the biggest investments in manufacturing in American history," Biden said. "And all they’re waiting for is for you to pass this bill. So let’s not wait any longer. Send it to my desk. I’ll sign it. And we will really take off."Intel is the No. 2 semiconductor manufacturer globally, with $73.1 billion in revenue last year, behind South Korean world leader Samsung Electronics with $76 billion, according to market analysis from Gartner Inc.
President Joe Biden discussed the importance of American manufacturing by highlighting a recent development happening in Ohio during his State of the Union address Tuesday evening.
The president said it's crucial to invest money in technologies and American manufacturing to bring more jobs to the United States and to level the playing field with China.
According to Biden, there's a "bipartisan innovation act sitting in Congress that will make record investments in emerging technologies and American manufacturing." He is referring to legislation that would provide billions of dollars for domestic semiconductor production.
Biden then provided an example of American manufacturing by pointing at Intel in Ohio, which is building a $20 billion Ohio chip facility amid a global shortage. The microprocessors are used in everything from phones and cars to video games.
Intel said two planned factories, or fabs, will support its own line of processors as well as its new “foundry” business, which will build chips tailored for other firms.
The investment outside Columbus in central Ohio is unique and unlike other forms of economic development, said Intel CEO Patrick Gelsinger. The chips built there will not just reduce supply chain pressures, but be part of national security and bring more tech jobs into the region.
Biden called the 1,000-acre site in Licking County a "Field of Dreams" and called it "the ground on which America's future will be built."
The plants are expected to create 3,000 Intel jobs and 7,000 construction jobs over the course of the build.
"Some of the most sophisticated manufacturing in the world to make computer chips the size of a fingertip that power the world and our everyday lives," Biden said talking about the work Intel will do.
The president mentioned Intel's CEO, Pat Gelsinger, was in attendance at the State of the Union address Tuesday night. He said Gelsinger told him they are ready to increase their investment from $20 billion to $100 billion.
"That would be one of the biggest investments in manufacturing in American history," Biden said. "And all they’re waiting for is for you to pass this bill. So let’s not wait any longer. Send it to my desk. I’ll sign it. And we will really take off."
Intel is the No. 2 semiconductor manufacturer globally, with $73.1 billion in revenue last year, behind South Korean world leader Samsung Electronics with $76 billion, according to market analysis from Gartner Inc.
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