NEW ALBANY, Ohio — Intel has yet to break ground on its New Albany chip plant, but that day is coming now that President Joe Biden signed the CHIPS Act into law.
The more than $50 billion incentive package was being pushed hard by Intel who had threatened to expand in Europe, not Ohio, had Congress not approved the bill. On Tuesday, that changed.
10TV spoke to a senior advisor to the president about why the CHIPS Act was needed.
"I wouldn't call this a handout I would call this a partnership. We are having a manufacturing resurgence in this country 650 thousand those are high paying jobs that are going to American citizens that are improving their livelihoods and you do it through these partnerships," said Mitchell Landrieu.
Landrieu said that 30 years ago the United States once made 40% of the world’s microchips, now we make less than 10%.
In July, the U.S. Secretary of Commerce Gina Raimondo warned that the U.S. could miss out on the semiconductor industry’s rush to produce more chips.
“Semiconductor companies need to get ‘concrete in the ground’ by this fall to meet this increased demand in the years ahead,” Raimondo said in a letter with Secretary of Defense Lloyd Austin, according to CNN.
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