- Intel Corp (NASDAQ:INTC) looks to spend $20 billion on a chipmaking hub on the outskirts of Columbus, Ohio, Time reports.
- Intel will build at least two semiconductor fabrication plants. The hub will likely grow to be the world's biggest silicon-manufacturing site.
- Intel will begin constructing two fabrication plants on a 1,000-acre site in New Albany, likely to be operational by 2025.
- Related Content: Intel's France, Germany, Italy Plans: All You Need To Know
- Intel will use the location as a hub to research, develop and manufacture its most advanced chips and have the option to expand to 2,000 acres and up to eight fabs.
- The planned investment includes 3,000 permanent jobs on the 1,000-acre site in New Albany, Ohio.
- Intel considered 38 sites before picking New Albany, Ohio, in December.
- Ohio has agreed to invest $1 billion in infrastructure improvements to facilitate the factory.
- Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM) has earmarked over $40 billion for capital expenditures in 2022. Intel looks to spend up to $28 billion.
- Price Action: INTC shares traded higher by 0.60% at $52.35 in the premarket session on the last check Friday.
