WASHINGTON – Pres. Biden yesterday signed that $280 billion bill bolstering the semiconductor industry, helping clear the way for Intel to continue work on its $20 billion manufacturing complex near New Albany.
The CHIPS and Science Act is intended to bolster the U.S. semiconductor industry in its competition with China to produce the vital components.
“The CHIPS and Science Act is going to inspire a whole new generation of Americans to answer that question: What next?” Biden said. “That’s why I’m confident that decades from now, people are going to look back at this week, with all we’ve passed and all we’ve moved on, that we met the moment at this inflection point in history.”
The law sets aside $52 billion to bolster which manufactures the diminutive chips that power everything from smartphones to computers to automobiles.
“Intel’s announced investment is already the largest in Ohio’s history and the company has indicated that with this CHIPS legislation its record investment will grow even larger over time,” Republican U.S. Sen. Rob Portman said.
The project, announced in January, is expected to create 7,000 construction jobs and an additional 3,000 permanent jobs.
“The CHIPS Act will help restore America as a global leader in the manufacturing industry,” Ohio House Minority Leader Allison Russo (D-Upper Arlington) said. “This legislation gives American companies and workers the tools they need to compete in the world economy, brings thousands of good paying jobs to Ohio, and reduces costs for families.”
The bill passed the House by a 243-187 vote and the Senate by a 64-33.