Intel postpones ceremony for Chip-making facilities in Ohio due to a lack of government funding
Intel Corporation, the biggest American manufacturer of semiconductor computer circuits, headquartered in Santa Clara, California, has decided to postpone its ceremony for the planned Chip-making facilities in Ohio due to a lack of funding from the US government. Reportedly, the ceremony was due on July 22 and is likely to be delayed without further announcement.
Previously, Intel has declared to build two semiconductor plants in New Albany, Ohio with a $20 billion plan. The company has been heavily dependent on the CHIPS Act which could provide $52 billion in funding. The company wanted to utilize the rest of the money for promoting manufactured chips in the US. Even though the US Senate House has approved the bill it has halted in during Congress’s finalization.
Consequently, Intel’s spokesperson William Moss has talked about their delay in the ceremonial process to the US lawmakers and said, “scope and pace of the company’s project reply on funding from the CHIPS Act. Unfortunately, CHIPS Act funding has moved more slowly than we expected and we still don’t know when it will get done.”
However, Mr. Moss has not talked about fixing a secondary date for the ceremony. Although the construction of the facilities will supposedly begin in late 2022 and the production will initiate in 2025.
According to a source, the House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer have said in a statement regarding the approval of the bill, “We expressed our belief that there is no reason that we should not pass this bill through Congress in July,”
The US Commerce Secretary Gina Raimondo has said regarding the passing of the CHIPS Act, “If Congress doesn’t pass the CHIPS Act and pass it quickly, we’re going to lose out on Intel, Micron, Samsung-they’re growing, they’re going to build future facilities.”
As the result, Congress is facing immense pressure from Intel and other government officials to pass the final version of the CHIPS Act before the Congressional recess in August.
