ICYMI: President Biden Announces Preliminary Agreement with Intel for Up to $8.5 Billion in CHIPS Funding, Part of Investing in America Agenda to Expand Domestic Semiconductor Manufacturing

This week, President Biden traveled to Chandler, Arizona, to announce a preliminary agreement with Intel for up to $8.5 billion in CHIPS & Science Act funding. The investment will support the construction and expansion of Intel facilities in Arizona, Ohio, New Mexico, and Oregon, creating nearly 30,000 jobs and supporting tens of thousands of indirect jobs. As part of his Investing in America agenda, President Biden is building an economy from the middle out and the bottom up, creating good-paying jobs in America, strengthening U.S. supply chains, and protecting national security.

This announcement marks a critical milestone in realizing President Biden's vision to reestablish America's leadership in chip manufacturing. This preliminary agreement will help unlock over $100 billion in private investment by Intel, creating good-paying jobs, strengthening local economies, and supporting access to affordable, high-quality child care. Semiconductors, which power our modern economy, were invented in America, but today the United States makes only 10% of the world's chips. Thanks to President Biden's investments, that is changing: semiconductor manufacturing is growing and semiconductor jobs are making a comeback.

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Washington Post: Biden awards Chips Act funds to Intel in Phoenix
[Jeanne Whalen, 3/20/24]

The Biden administration is awarding up to $8.5 billion in grants and $11 billion in loans to tech giant Intel to support computer-chip production in several states, in one of the nation's biggest ever investments in high-tech manufacturing seen as crucial to national and economic security. President Biden on Wednesday will join Intel's chief executive at a massive construction site in suburban Phoenix to announce the awards, which the California-based company will use to support that project and others in Ohio, New Mexico and Oregon.

New York Times: Intel Receives $8.5 Billion in Grants to Build Chip Plants
[Madeleine Ngo, Zolan Kanno-Youngs and Don Clark, 3/20/24]

President Biden on Wednesday awarded $8.5 billion in grants to Intel, a major investment to bolster the nation's semiconductor production, during a tour of battleground states meant to sell his economic agenda. Speaking from the Intel campus in Chandler, Ariz., Mr. Biden said the award would support thousands of new manufacturing jobs, including ones that do not require a college degree.

NBC: In swing state Arizona, an $8.5 billion CHIPS grant spells 'jobs' more than geopolitics
[Christine Romans and Emily Pandise, 3/21/24]

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.

NPR: Biden is giving Intel $8.5 billion to build in Arizona and 3 other states
[Deepa Shivaram, 3/20/2024]

President Biden announced a deal with Intel that will give the chipmaker up to $8.5 billion in grants and another $11 billion in loans to build semiconductor plants in four states — the biggest project to date in his push to bring chips manufacturing back to America. The funding comes from the CHIPS and Science Act passed by Congress in 2022 to pour more than $52 billion into projects to dramatically boost U.S. production of the tiny electronic devices found in everything from cars to cell phones to military weapons.

AP: Biden touts Arizona as America's 'future' as government invests $8.5 billion in chipmaker Intel
[Josh Boak and Seung Min Kim, 3/20/24]

President Joe Biden on Wednesday celebrated an agreement to provide Intel with up to $8.5 billion in direct funding and $11 billion in loans for computer chip plants around the country, talking up the investment in the political battleground state of Arizona and calling it a way of "bringing the future back to America." The Biden administration has predicted that the cash infusion should help the U.S. boost its global share of advanced chip production from zero to 20%.

CNBC: Intel awarded up to $8.5 billion from CHIPS Act, with loans available
[Kifi Leswing, 3/20/24]

The White House said Intel has been awarded up to $8.5 billion in CHIPS Act funding, as the Biden administration ramps up its effort to bring semiconductor manufacturing to U.S. soil. The awards will be announced by President Joe Biden in Arizona on Wednesday. The money will help "leading-edge semiconductors made in the United States" keep "America in the driver's seat of innovation," U.S. Secretary of Commerce Gina Raimondo said on a call with reporters.

Bloomberg: Intel (INTC) Wins Almost $20 Billion in Chips Incentives for US Plants
[Mackenzie Hawkins, 3/20/24]

The US will award Intel Corp. $8.5 billion in grants and as much as $11 billion in loans to help fund an expansion of its semiconductor factories, marking the largest award from a program designed to reinvigorate the domestic chip industry.

Axios: Biden to announce $20 billion in funding for Intel chip factories
[Hans Nichols, 3/20/24]

President Biden will announce $20 billion in grants and loans for Intel to expand its semiconductor production at a stop in Arizona on Wednesday, a move the administration claims will lead to 10,000 new jobs in the swing state. It's all part of Biden's pitch to voters that his three signature legislative accomplishments — infrastructure, chips and green energy — will directly improve their financial standing and grow the broader economy.

The Hill: Biden announces major semiconductor deal with Intel to invest in 4 states
[Brett Samuels, 3/20/24]

President Biden on Thursday will tout an agreement with Intel to provide up to $8.5 billion to bolster semiconductor manufacturing and expand the company's operations in four states, the latest major investment 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 nearly 30,000 jobs, White House officials said.

Politico: In Arizona, Biden drops $8.5B on Intel. Will it help his campaign?
[Christine Mui and Brendan Bordelon, 3/20/24]

President Joe Biden traveled to Arizona Wednesday to announce that chipmaking giant Intel would be getting billions of dollars as part of a landmark industrial policy that he's hoping will help pave the way for his reelection. The grant is the largest award to be made from the bipartisan CHIPS and Science Act of 2022, which directed $39 billion in subsidies to boost U.S. competitiveness in semiconductors.

Wall Street Journal: Intel Gets $8.5 Billion Award For U.S. Chip-Plant Construction
[Asa Fitch and Annie Linskey, 3/20/24]

The U.S. government is granting up to $8.5 billion to help fund new chip plants in four states, the largest award yet in an effort to revive American chip-making overseen by the Biden administration. The money will go toward new factories and expansion projects in Arizona, New Mexico, Ohio and Oregon, the Commerce Department said. Intel's total investment in U.S. projects in the next five years is expected to exceed $100 billion, according to the department, which is overseeing the grants.

Fortune: Intel wins $8.5 billion in CHIPS Act grants as 'historic' semiconductor spending spree heats up
[Dylan Sloan, 3/20/24]

The Commerce Department is taking its biggest step yet toward onshoring semiconductor manufacturing with a historic $19.5 billion funding deal with Intel, which the Santa Clara, Calif.-based semiconductor giant plans to use for four new production facilities across the country. President Biden signed the $53 billion CHIPS and Science Act into law in August 2022, committing to ensure that the U.S. could design and manufacture the advanced computer chips that power everything from lawnmowers to supercomputers on its own soil, instead of having to outsource production to Asia.

Arizona Republic: President Joe Biden in Chandler to announce $8.5 billion for Intel
[Laura Gersony and Russ Wiles, 3/20/24]

President Joe Biden came to Chandler Wednesday armed with a simple argument: his economic plans are working. "We have more to do. I get it: we have more to do. But no question, our plan of delivering for the American people is working now," Biden said to a crowd of hundreds of people at Intel's Ocotillo Campus. His targeted investments in U.S. industries, which the White House has dubbed the 'Investing in America' program, have "ignited a manufacturing boom in America, a clean energy boom, a jobs boom, all here in America, finally," he said.

Arizona Republic: Intel gets $8.5 billion, Arizona gets 10,000 jobs. 4 in GOP vote 'no'
[EJ Montini, 3/21/24]

At least this time around, none of Arizona's House Republicans are pretending they were in favor it. Not yet, anyway. Because they weren't in favor of it. President Joe Biden was in town this week to announce the infusion of $8.5 billion in grants to Intel, bringing with it a giant boost to the state's economy and as many as 10,000 new jobs. It's part of what is called the CHIPS and Science Act of 2022, a bill originating with (credit where credit is due) Sen. Kyrsten Sinema, working with Sen. Mark Kelly and Republicans.

Black Chronicle: Biden announces $8.5 billion for Intel's semiconductor efforts on Arizona trip
[3/20/24]

President Joe Biden and Commerce Secretary Gina Raimondo announced up to $8.5 billion in federal grant funds from the CHIPS and Science Act will go toward Intel's semiconductor operations on Wednesday in Chandler, Arizona. "It's a smart investment," Biden said, later describing the developments as a semiconductor "comeback" to the United States. "I've never been more optimistic about our future," Biden later said.

The Cleveland Plain Dealer: Biden announces almost $20 billion in Intel grants and loans for plants in Ohio, Arizona, Oregon and New Mexico
[Sabina Eaton, 3/20/24]

The U.S. Department of Commerce has reached a preliminary agreement with Intel to provide up to $8.5 billion in grants and $11 billion in loans for the company to build and expand semiconductor production facilities in Ohio, Arizona, New Mexico and Oregon. President Joe Biden will visit an Intel facility in Arizona on Wednesday to announce the agreement, which the White House said disburses money from the CHIPS and Science Act adopted in 2022. It will create 10,000 manufacturing jobs and 20,000 construction jobs at the four company locations and will support tens of thousands more indirect jobs, according to the White House.

Oregon Public Radio: Intel announces $36B Hillsboro investment following federal funding commitments
[Rob Manning, 3/20/24]

Intel is rolling out $100 billion in spending across four states — with Oregon getting the largest chunk. The tech giant's unveiling of spending plans followed an announcement Wednesday from the Biden Administration that Intel will receive $8.5 billion from the 2022 CHIPS and Science Act and up to $11 billion in federal loan guarantees. President Joe Biden announced the federal funding for Intel in Arizona, one of the other states with a big Intel presence, and a critical swing state in the upcoming 2024 election.

Oregon Capital Chronicle: Biden announces up to $8.5 billion in preliminary funding for Intel
[Ben Botkin, 3/20/24]

The White House on Wednesday announced a preliminary agreement with Intel for up to $8.5 billion in funding to help the semiconductor manufacturer expand in four states, including the company's research and development hub in Hillsboro. The legislation is intended to make Oregon semiconductor companies more competitive when they applied for a piece of the $52 billion in federal money that Congress made available through the CHIPS and Science Act to expand semiconductor manufacturing in the U.S. That act led to Biden's announcement on Wednesday.

Wisconsin Public Radio: Biden is giving Intel $8.5 billion for big semiconductor projects in 4 states
[Deepa Shivaram, 3/20/24]

President Biden announced a deal with Intel that will give the chipmaker up to $8.5 billion in grants and another $11 billion in loans to build semiconductor plants in four states — the biggest project to date in his push to bring chips manufacturing back to America. They are an example of the kinds of jobs he is campaigning on as he makes his pitch for a second term — jobs made possible by his brand of government intervention in the private sector, an industrial policy that had, for decades, fallen out of fashion. The investment by Intel will give the United States a foothold in leading-edge logic chips — the kind of semiconductors used for artificial intelligence and military systems. Right now, these chips are all made overseas. "Amazing to me. I'll be darned. Well, you're bringing the future back to America, man," he said.

WOSU (NPR/PBS Columbus, OH): Intel plants in New Albany and Arizona to receive nearly $20 billion in federal funding
[George Shillcock, 3/20/24]

President Joe Biden's administration announced Wednesday that nearly $20 billion in funding will be spread across Intel's various expansion projects throughout the country, including the new microchip plant currently under construction in New Albany. The Biden administration said the president plans to discuss the funding at Intel's Chandler, Arizona campus Wednesday. The White House's CHIPS Director Ryan Harper told WOSU Arizona is the focal point of this funding, but billions will still go to Ohio through the company's investment in the New Albany facility.

WCMH (NBC Columbus, OH): President Biden to announce billions for Intel: how it will impact New Albany
[Aaron Burd, 3/20/24]

Biden is traveling to Chandler, Arizona, on Wednesday to visit Intel's Ocotillo campus and announce the Department of Commerce has reached a preliminary agreement to award it with up to $8.5 billion in direct funding and eligibility for $11 billion in loans, which will come from the CHIPS and Science Act. The funding will support the construction and expansion of Intel facilities in Arizona, New Mexico, and Oregon, as well as the Ohio One facility under construction in New Albany. The package will also help establish a regional economic cluster in New Albany for chipmaking. It's expected to create nearly 20,000 jobs: with 3,000 manufacturing, 7,000 construction and an estimated 10,000 indirect jobs.

Spectrum News: 'Bringing the future back to America': Biden announces billions in funding for Intel to expand, build chip plants nationwide
[Maddie Gannon, Susan Carpenter, 3/20/24]

President Joe Biden announced $8.5 billion in funding for Intel factories that will make semiconductors in four states. The investment is part of a Biden administration plan to dedicate billions of dollars in federal funds from his signature CHIPS and Science Act to bring semiconductor production back to the United States from Asia. "If it was invented in America, it should be made in America," the president said at Intel's construction site in Chandler, Ariz., on Wednesday. "This is going to transform the country in a way you don't even understand yet." Biden's CHIPS and Science Act, signed in August 2022, contains $52.7 billion in subsidies to bolster domestic semiconductor production, along with a 25% tax incentive for investments in domestic chip investments worth roughly $24 billion.

Scripps News: White House to give Intel $19.5 billion to boost US chip production
[Staff, 3/20/24]

The Biden administration announced billions of dollars in new funds for chipmaker Intel on Wednesday, touting the investment as a way to boost U.S. competitiveness in a burgeoning high-tech market. Intel will get as much as $8.5 billion in direct federal funding and will have access to another $11 billion in loans. The money, delivered in part from the 2022 CHIPS and Science Act, is expected to go to building and modernizing chip plants in Arizona, Ohio, Oregon and New Mexico. This is the fourth such disbursement directed by the CHIPS act. The money has been critical in helping chip companies commit to domestic investment, officials say.

KRQE (CBS/FOX Albuquerque, NM): Intel in New Mexico part of President Biden's plan for advanced chip manufacturing
[Curtis Segarra, 3/20/24]

President Joe Biden recently announced plans to invest more than billions of dollars in computer chip manufacturing across the U.S. Intel's New Mexico locations are a key part of the plan. Intel is set to receive up to $8.5 billion in direct funding. Intel says it plans on using some of that money to modernize and upgrade factories in New Mexico.

KTVK/KPHO (CBS Phoenix, AZ): Biden touts $8.5 billion investment in Intel computer chips at Chandler plant
[Staff, 3/20/24]

The Biden administration has reached an agreement to provide Intel with up to $8.5 billion in direct funding and $11 billion in loans for computer chip plants in four states, a cash infusion that the government says should help the U.S. boost its global share of advanced chip production from zero to 20%. Intel's projects would be funded in part through the bipartisan 2022 CHIPS and Science Act, which the Biden administration helped shepherd through Congress at a time of concerns after the pandemic that the loss of access to chips made in Asia could plunge the U.S. economy into recession. Biden administration officials say that computer chip companies would not be investing domestically at their expected scale without government support. "If it was invented in America, it should be made in America," he said. He later added, "this is going to transform the country in a way that you won't even understand yet."

KVOA (NBC Tucson, AZ): Biden Administration announces $8.5 billion in funding for Intel
[Zachary Jackson, 3/20/24]

The Biden-Harris Administration announced $8.5 billion in direct funding to Intel under the CHIPS and Science Act. Funding from the CHIPS Act aims to increase U.S. semiconductor manufacturing and development capabilities at various sites across the United States including Arizona. This funding supports Intel's commitment to invest over $100 billion into the United States over five years.

KGW (NBC Portland, OR): Intel to invest $36B in expansion of Hillsboro chipmaking campus
[Staff, 3/20/24]

Oregon's premier chip manufacturer, Intel, announced plans Wednesday to invest $36 billion to expand and innovate its chipmaking plants in Hillsboro. The news comes on the back of the Biden administration awarding Intel up to $8.5 billion in CHIPS and Science Act funding, a $280 billion package signed into law in 2022, which is aimed at building up the U.S. semiconductor industry.

Los Angeles Times: Biden announces multibillion-dollar deal with Intel to set up chip plants
[Josh Boak, 3/20/24]

TRANSLATED FROM SPANISH TO ENGLISH
Commerce Secretary Gina Raimondo said that through that agreement, the United States will be able to produce 20% of the world's most advanced chips by 2030, compared to its current level of zero. The United States designs semiconductors, but its inability to manufacture them domestically has become a national security problem as well as an economic one. "We can't just design chips. We have to make them in the United States."

El Diario: Biden announces multimillion-dollar subsidy for chip production
[3/20/24]

TRANSLATED FROM SPANISH TO ENGLISH
The announcement in Phoenix, Arizona, is one of the major awards of Mr. Biden's $39 billion CHIPS and Science Act, which aims to develop the U.S. semiconductor industry and reduce reliance on technology made in Asia Oriental. Mr. Biden has made expanding production of chips, which are used in all types of technologies, a central goal of his efforts to compete with China and bolster domestic manufacturing. Biden administration officials have also emphasized the need to boost apprenticeship programs to prepare a workforce that can fill factories in places like Arizona or Texas.

El Financiero: Biden 'releases' $20 billion to Intel to build semiconductor plants in the US
[Mackenzie Hawkins, 3/20/24]

TRANSLATED FROM SPANISH TO ENGLISH
President Joe Biden will tour an Intel campus in Phoenix this Wednesday, March 20, and announce a preliminary agreement with Intel for a major Science and Chip Act award of 2022. The package will support more than $100 billion in Intel's U.S. investments, including efforts to produce cutting-edge semiconductors at large-scale plants in Arizona and Ohio, the Commerce Department announced March 20. The money will also help pay for research and development of advanced packaging equipment and projects at smaller facilities in Oregon and New Mexico.

12 News: Arizona to offer 9,000 new jobs after federal government invests billions of dollars in Intel company
[John Tanet, 3/20/24]

TRANSLATED FROM SPANISH TO ENGLISH
Manufacturing in the state of Arizona is about to get a big boost. On Wednesday, the Biden administration announced it will invest $8.5 billion in Intel facilities across the country. Arizona is already home to four microchip manufacturing plants, Intel's largest domestic manufacturing footprint. The company is currently building two new state-of-the-art manufacturing facilities at its 13,000-employee Ocotillo campus in Chandler. The investment is part of the CHIPS and Science Act and will provide Intel with $8.5 billion in direct funding with an additional $11 billion lent to the company.

Engadget: Intel will get $8.5 billion in CHIPS Act funding to support its US manufacturing efforts
[Mariella Moon, 3/20/24]

Intel is getting a huge boost from the US government under the CHIPS and Science Act. That money will go towards the chipmaker's efforts to expand its manufacturing facilities in the United States, particularly plants designed to make leading-edge semiconductor chips meant for use in AI and other advanced applications. This is the administration's fourth CHIPS investment, and it's largest yet. If you combine Intel's own money with the government's funding, this is one of the biggest investments announced in US semiconductor manufacturing overall.

CBS: – CBS Streaming "America Decides"
[Jared Bernstein, 3/20/24]

Jared Bernstein: "Now here we had a bipartisan piece of critically important, really transformational legislation, in the CHIPS Act. We invented semiconductors. We invented their manufacturing. We used to produce 40% of the CHIPS. Now we're down to 10%. This President not only wants to reverse that, but he has the legislative chops to make it happen. And it was just great seeing him out there today talk about this landmark investment in in Arizona… You started this segment showing a President standing near a groundbreaking of historic proportions, one of the largest investments in semiconductors in this country ever in the state of Ohio, in the state of Arizona, where he was today, and in New Mexico and Oregon. And you're talking about tens of thousands of good, high-quality jobs, many for non-college educated workers. I'm not sure what else we can do other than deliver precisely those kinds of programs and policies to the American people right here on American soil. You saw a President saying I'm going to bring these jobs back to America."

Jonathan Lemaire and Mike Memoli – Way Too Early /// MSNBC – March 21, 2024

Jonathan Lemire: "Certainly, this is a big deal. It's a big deal for reasons of supply chains, for reasons of national security, for reasons of economy but also politics. And it's no coincidence the President was in Arizona, a key battleground, to make this announcement yesterday. What sort of the pitch here for a President who's still trying to convince voters that, hey, the economy is good and I deserve some credit?"

MSNBC: Morning Joe /// MSNBC – March 20, 2024
[Adrienne Elrod, 3/20/24]

Adrienne Elrod: "Here is a President going to the state saying I did say I'd create more jobs as president, but I'm delivering on that promise… He's catalyzing that investment in Arizona through the Chips and Science Act. I think something that's really important to focus on here, is that President Biden with his leadership is really reimagining what industrial policy looks like. President Biden always talks about having a job with dignity, a job that you can really invest your time in and you feel good about what you're doing at the end of the day. So, what we're looking at here is getting people back into jobs, where skills can be effectively utilized and these are good paying jobs...So, I think again, when you look at the long-term benefits here, this is going to be one of President Biden's biggest legacies and get people back to work in jobs they can be excited about."