Gov. Mike DeWine said he contacted the White House on Wednesday and asked it to accelerate funding for Intel.
COLUMBUS, Ohio — CHIPS Act With the November election just six days away, money is a big political topic.
“I reached out to the White House today to ask them to accelerate funding for Intel, which has been around for quite some time. It’s important to Ohio,” Gov. Mike DeWine told reporters Wednesday. It is important for the future of this country.”
The question is, why hasn’t the government made public the $8.5 billion it approved for semiconductor giants?
To understand why, you must first understand what the CHIPS Act is and what it is not. The $39 billion taxpayer-funded program is not a handout. The U.S. Department of Commerce says the program is a redemption fund. “All these companies would love for us to back up their trucks with taxpayer money in their parking lots and put it in the Treasury, but we can’t do that,” said Commerce Secretary Gina Raimondo. spoke.
The Commerce Department says Intel was aware of the restrictions on the funds, and the department needs to examine whether it did anything to merit taxpayer money.
“While the CHIPS program does not comment on active negotiations, we have strong confidence in Intel’s expansion efforts in Ohio and support for Intel’s overall vision for chip manufacturing in the United States. We will continue to work closely with them on the award and finalization.”We will provide further updates as they become available,” said Mike Schmidt, CHIPS Program Office Director. says.
The CHIPS Act was sponsored by Democratic Sen. Sherrod Brown. 10TV has reached out to his office for comment on why the funds have not yet been released.
“Ohio’s workers are ready to lead the world in semiconductor manufacturing, but we need federal investment through the CHIPS Act to move this project forward. The Department of Commerce and Intel are committed to the New Albany Project We need to work together to immediately unlock already approved CHIPS investments. This is as much an economic opportunity as it is a national security issue, and we need the Administration to ensure federal investment in this important project. There is no reason to delay,” he said.
The Browns’ challenger, Republican Bernie Moreno, was asked on 10TV on Monday whether he voted for the CHIPS Act.
“Generally speaking, I’m on the side of tax incentives over government subsidies. The reason they (Intel) got zero benefit from the CHIPS Act is because it’s bureaucratic fatigue “Because it’s falling into a trap,” he said.
Intel did not explicitly say that the two factories would be delayed due to a lack of funding, but it also did not say that it would not.
“We are proud to build the Silicon Heartland. A project of this size and complexity has many moving parts, and it is not uncommon for the timing of certain work orders to fluctuate. No. We are well on our way to establishing Ohio One as one of the world’s premier semiconductor manufacturing hubs, and we are on track to complete that work since the CHIPS Act was passed more than two years ago. has already invested nearly $30 billion to expand U.S. semiconductor manufacturing. We continue to work together with the Department of Commerce with our shared goal of building a globally competitive U.S. semiconductor ecosystem. “We are accelerating and streamlining the process to achieve this goal,” an Intel spokesperson said.
