President Joe Biden celebrated the grand opening of a new $20 billion semiconductor factory in Ohio on Friday, as his administration also begins to break new ground on the federal bill to increase funding for the manufacturing of chips across the country.
Biden traveled to Licking County, outside of Columbus, less than two months before the midterm elections, joined by the two Republicans, Gov. Mike DeWine and Sen. Rob Portman, as well as candidate Senate Democrat Tim Ryan, who previously kept his distance from Biden at events in Ohio. .
Intel had delayed groundbreaking its factory until the CHIPS and Science Act became law, which it did with Biden’s signature last month. The law project
The plant is expected to create 7,000 construction jobs and later 3,000 full-time jobs making some of the most advanced semiconductor chips, which are used for technologies including vehicles, smartphones and devices. appliances.
On Friday, the president hammered home his focus on domestic manufacturing, a key tenet of his economic plan ahead of November’s midterm elections.
“Friends, we need to make these chips here in America, reduce daily costs and create good jobs,” he said.
Intel also announced on Friday that it has distributed $17.7 million to Ohio colleges and universities for chip-focused education and workforce programs, part of a larger 50-year program. million in Ohio. They’re teaming up with the National Science Foundation to invest $100 million in similar efforts across the United States.
The CHIPS Act includes $50 billion intended to revitalize the domestic semiconductor industry, and the Commerce Department announced plans for rolling out the money this week.
Meanwhile, the White House said that in the past few weeks companies other than Intel have joined us: Micron will spend $15 billion on a memory chip factory in Idaho, GlobalFoundries will expand its New York plant with $4.2 billion, and Toyota recently announced a $2.5 billion investment in its battery plant in Greensboro, North Carolina.
Biden called the CHIPS law a “game changer” for the country.
“It’s about our economic security. This is our national security,” he said. “Jobs now. Jobs for the future. Jobs in all regions of the country, we are not going to leave any of them behind.
“Jobs that show the industrial Midwest is back,” he said.
Biden also gave Congressman Ryan a nod, thanking him for his leadership, after Ryan said in a television interview with Youngstown’s WFMJ on the eve of Biden’s visit that he “campaigns as a than independent”. When asked if Biden should run for a second term, Ryan said, “My hunch is that we need new leadership at all levels, Democrats, Republicans, I think it’s time for a change. generational.”
He clarified those comments on Friday, saying, “The president said at the very beginning that he was going to be a bridge to the next generation, which is basically what I was saying.”
When asked if Biden should run again, he replied, “It’s up to him.”
The open Senate seat in Ohio, currently held by retired Republican Senator Rob Portman, is one of many hotly contested races that could determine whether Democrats can hold onto their slim majority in the chamber through the second half of the Biden’s tenure.
JD Vance, the Republican Senate candidate from Ohio, hailed the Intel plant in a statement as “a great bipartisan victory” for the state. He specifically applauded the “hard work” of GOP lawmakers, including DeWine and Portman, but Vance made no mention of Biden.
The shortage of semiconductors has plagued the US and global economies. It cut production of automobiles, appliances and other goods in a way that fueled high inflation, while creating national security risks as the United States recognized its dependence on vis-à-vis Asia for the production of chips.
The mix of high prices and long expectations for commodities has left many Americans unhappy with Biden’s economic leadership, a political weakness that has eased somewhat as gas prices have fallen and many voters worried about the loss of abortion protections after the Supreme Court. quashed Roe v. Wade.
The new CHIPS law would provide $28 billion in incentives for semiconductor production, $10 billion for new chip manufacturing, and $11 billion for research and development. The funding follows similar efforts by Europe and China to ramp up production of chips, which political leaders see as essential for economic and military competition.
Lawmakers have designed semiconductor investments to favor areas outside of the more affluent coastal cities where technology dominates. This means that changes will occur in the city of New Albany, Ohio, where the Intel factory is being built, as well as in nearby Johnstown.