Intel has secured a significant $7.86 billion in funding from the Biden-Harris administration and the U.S. Department of Commerce, marking a key milestone in the U.S. CHIPS and Science Act. This investment will support over 10,000 jobs at Intel, nearly 20,000 construction jobs, and create over 50,000 additional roles in related industries.
The funding complements a $3 billion contract Intel previously received for its Secure Enclave program, aimed at expanding U.S. semiconductor manufacturing.
Intel’s focus will be on advancing semiconductor manufacturing and packaging across several U.S. states, including Arizona, New Mexico, Ohio, and Oregon. The company also benefits from a 25% investment tax credit as part of the deal. In total, Intel plans to invest more than $100 billion to bolster U.S. manufacturing and job growth.
Intel’s CEO, Pat Gelsinger, emphasized the importance of restoring American leadership in semiconductor technology and manufacturing, highlighting the long-term economic and national security benefits of these investments.
As part of its commitment to sustainable growth, Intel is setting aside $56 million for workforce training, particularly through initiatives like its new apprenticeship program.
Additionally, the company will allocate funds to improve childcare access and support diversity through the CHIPS Women in Construction Framework, promoting greater inclusion in the workforce.
This strategic initiative signals Intel’s dedication to both economic expansion and community-focused development, positioning the company as a key player in the future of U.S. manufacturing and technology.
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