Intel Corp. has pushed back the expected opening date for its semiconductor plant in central Ohio once again. The company now expects construction on the first factory, planned for New Albany, to be completed by 2030 and begin operations between then and 2031. Construction of the second factory is slated for completion in 2031, with operations starting in 2032.
The project, initially announced in January 2022, has faced numerous delays due to financial concerns, CEO departures, and other issues. Intel’s decline as a dominant force in the semiconductor industry has also been attributed to rival Nvidia’s growing market share.
Intel is receiving $2.2 billion of the $7.8 billion in funding it was promised by the federal CHIPS Incentives Program. The company initially planned to use $1.5 billion for the New Albany project, according to the U.S. Department of Commerce.
Despite the latest delay, Ohio remains confident in the project’s success, with Governor Mike DeWine’s spokesperson calling it a “disappointment.” However, Intel has stated that it will continue construction at a slower pace and maintain flexibility to accelerate work if customer demand warrants it.
Source: https://apnews.com/article/intel-ohio-semiconductor-plant-426bff9f8fcb8573e2721dd89e54edae