U.S. Senate passes bill that could boost Ohio Intel project

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The U.S. Senate voted Wednesday to approve billions of pounds for semiconductor manufacturers, which Intel leaders say will help the corporation ramp up its financial commitment in central Ohio.

The legislation, regarded as the CHIPS Act, would allocate extra than $52 billion in subsidies for companies to study, layout and manufacture semiconductors. It also would supply a 25% tax credit for firms that make amenities in the U.S. 

Intel announced in January that it will commit $20 billion to establish two semiconductor factories in Licking County that will employ 3,000 employees. CEO Pat Gelsinger said the company’s investment in Ohio could attain $100 billion, but only if the help deal is approved by Congress. 

The two Ohio Sens. Rob Portman and Sherrod Brown voted in favor of the bill.

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