Transport Topics on Nostr: Biden Touts $8.5 Billion Chips Investment for Intel ========== The Biden ...
Biden Touts $8.5 Billion Chips Investment for Intel
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The Biden administration has reached an agreement to provide up to $8.5 billion in direct funding and $11 billion in loans for computer chip plants in four states. Commerce Secretary Gina Raimondo said the deal would put the United States in a position to produce 20% of the world’s most advanced chips by 2030. Intel will be investing in facilities in Arizona, Ohio, Oregon, and New Mexico. The funding announcement comes amid the 2024 presidential campaign, with Biden highlighting his economic policies and job growth. The investment is part of the bipartisan 2022 CHIPS and Science Act, which aims to address concerns about China's control over advanced computer chip production in Taiwan. Intel plans to make $100 billion in capital investments over five years, creating 30,000 manufacturing and construction jobs. The Biden administration believes that computer chip companies would not invest domestically at this scale without government support.
#BidenAdministration #Intel #ComputerChips #Investment #Manufacturing #JobGrowth #ChipsAndScienceAct #China #Taiwan
https://www.ttnews.com/articles/intel-chips-investment
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The Biden administration has reached an agreement to provide up to $8.5 billion in direct funding and $11 billion in loans for computer chip plants in four states. Commerce Secretary Gina Raimondo said the deal would put the United States in a position to produce 20% of the world’s most advanced chips by 2030. Intel will be investing in facilities in Arizona, Ohio, Oregon, and New Mexico. The funding announcement comes amid the 2024 presidential campaign, with Biden highlighting his economic policies and job growth. The investment is part of the bipartisan 2022 CHIPS and Science Act, which aims to address concerns about China's control over advanced computer chip production in Taiwan. Intel plans to make $100 billion in capital investments over five years, creating 30,000 manufacturing and construction jobs. The Biden administration believes that computer chip companies would not invest domestically at this scale without government support.
#BidenAdministration #Intel #ComputerChips #Investment #Manufacturing #JobGrowth #ChipsAndScienceAct #China #Taiwan
https://www.ttnews.com/articles/intel-chips-investment