Intel and Biden-Harris Administration Finalize $7.86 Billion Funding Award Under US CHIPS Act
Intel Corporation and the Biden-Harris Administration announced today that the U.S. Department of Commerce and Intel have reached agreement on terms to award the company up to $7.86 billion in direct funding for its commercial semiconductor manufacturing projects under the U.S. CHIPS and Science Act. The award will support Intel’s previously announced plans to advance critical semiconductor manufacturing and advanced packaging projects at its sites in Arizona, New Mexico, Ohio and Oregon. Intel also plans to claim the U.S. Treasury Department’s Investment Tax Credit, which is expected to be up to 25% of qualified investments of more than $100 billion. A September 2024 photo shows a powerful crane on the Intel Ohio One construction site in Licking County, Ohio. Students at nearby Johnstown Monroe Intermediate School named the powerful crane “Ms. Armstrong,” paying homage to Ohio’s history in innovation, aviation and space. Standing more than twice as tall as the Statue of Libert...