Intel Gets Nearly $20B in Federal Funds, Loans to Boost US Chip Production
Summary from the AllSides News Team
The Biden administration announced up to $8.5 billion in direct funding and $11 billion in loans this week for U.S. semiconductor producer Intel to expand production.
The Details: The deal positions the U.S. to increase its share of global chip production from around 12% today. Intel plans to grow its existing facilities and expects the funding to help create 30,000 jobs. The company will perform a multi-billion dollar expansion of its factory in Oregon, and will build two new plants and modernize an existing one in Arizona. Plants will also be established in Ohio, and Intel's plants in New Mexico will become advanced packaging facilities.
For Context: U.S. production of advanced semiconductors, otherwise known as computer chips, has faltered of late. In 2022, China accounted for 22% of the world's chip production capacity, ranking second behind U.S. ally South Korea. "The Americas" accounted for 8%. The investment also aims to bolster semiconductor advances in artificial intelligence (AI) and military systems.
How the Media Covered It: Sources across the spectrum framed the plan positively. Fox Business (Lean Right) highlighted optimistic remarks from Intel's CEO. NBC News (Lean Left) focused on the potential for thousands of new jobs at a local level.
Why the Similarity? The plan appeals to many people regardless of their politics. It will help create jobs, increase the U.S.'s global standing as a chip producer, and mitigate national security risks associated with relying on chips from other countries.
Featured Coverage of this Story
From the Left
In swing state Arizona, an $8.5 billion CHIPS grant spells 'jobs' more than geopolitics
In the booming Phoenix metro area, Washington policymakers’ rare bipartisan push to bolster national security in their high-tech arms race with China brings major enthusiasm for something more basic: jobs.
A fresh influx of $8.5 billion in CHIPS and Science Act funding to help Intel build two semiconductor plants and upgrade an existing one in Chandler, 30 minutes southeast of downtown Phoenix, is expected to bring thousands of high-paying roles to the area.
“That’s what the city needs — jobs,” said Alfred Garza, a lifelong Chandler resident, who said he has watched...
From the Right
Intel embarking on a 'journey to rebuild' US chip domination, CEO says
Intel CEO Pat Gelsinger is sharing the lead technology company’s excitement over billions of dollars in federal grants that will help the U.S. return to chip production prominence.
"This is a big investment to be a leading technology supplier for something so critical to our nation, the economy and our security. We're excited," Gelsinger said in a wide-ranging interview airing on "The Claman Countdown" Wednesday and Thursday. "Clearly, we are on a journey to rebuild our leadership position."
Stemming from the CHIPS and Science Act, the Biden-Harris administration announced Wednesday...
From the Center
Biden touts ‘landmark agreement’ with Intel during visit to Arizona
President Biden on Wednesday boasted about a “landmark agreement” between his administration and Intel to invest up to $8.5 billion in federal funds in semiconductor facilities in Arizona and three other states, arguing it would transform the country’s manufacturing capacity.
Biden toured an Intel campus in Chandler, Ariz., where he delivered remarks on the latest public-private partnership struck through the bipartisan CHIPS and Science Act.
The funding would support construction and expansion of Intel facilities in Arizona, Ohio, New Mexico and Oregon, and create roughly 20,000 construction jobs and 10,000 manufacturing...
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