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Intel It plans to invest $20 billion in a semiconductor factory outside of Columbus, Ohio. White House On Friday, President Biden said as he seeks to spur US production to combat a global chip shortage.
The White House said the new facility will create 7,000 construction jobs and 3,000 permanent jobs.
“Today’s announcement is the latest indication of progress made in the Biden-Harris administration’s efforts to increase domestic production for critical goods like semiconductors, combat short-term supply chain bottlenecks, revitalize our manufacturing base, and create good jobs here at home.” said the note.
The global shortage of semiconductors is affecting products such as cars, smartphones, medical equipment and vacuum cleaners.
The Biden administration said the shortage slashed a full percentage point from U.S. gross domestic product last year, hurting U.S. auto workers who are facing leave and production cuts due to pandemic cuts at Asian semiconductor factories.
The administration said the US should be more dependent on domestic production. He boasted that the semiconductor industry has invested more than $80 billion in the US since the start of 2021.
“The United States used to lead the world in global semiconductor production. But in recent years the US has lost its edge – our share of global semiconductor manufacturing has dropped from 37% to just 12% over the past 30 years,” the management said in a memo. Congress is working round the clock with our international allies and partners and the private sector to address the chip shortage and ensure we are not exposed to these disruptions.
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