Ohio Governor DeWine says Intel delay on $20 billion chip plant is about 'leverage'

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Mike DeWine said he believes Intel is threatening to delay a massive chip manufacturing facility in order to gain leverage with Congress.

DeWine said Intel told his team that the CHIPS Act funding would be the difference between a $20 billion project built over several years, and an $80-100 billion investment "within a relatively short period of time."But they also said, 'Look, if we don't have the CHIPS Act, we just can't do that.

DeWine suggested the delay is a negotiating tactic by the company to get the legislation passed."I don't think they wanted to be in a position where they would say to Congress, we're breaking ground, and Congress still hadn't passed the CHIPS Act," he said."I think it's a little bit of maybe leverage or a little bit of, hey, let's pay attention to this.DeWine, a former U.S.senator and congressman, said he has received assurances from former colleagues on both sides of the aisle that the law will be passed soon.

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Category: Technology

Topics: Mike DeWine CNBC Global CFO Council Economic Development United States government Cnbc Special Reports US Economy Intel Corp Corporate management Politics Top States For Business US: News Markets Ohio Articles Economy Local governments State governments U.S. Economy Technology Source:tagname:CNBC US Source

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News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-07-01, 13:56:44

News Timezone: GMT -5:00

News Source URL: cnbc.com

Language: English

Reading Time: 8 minutes read

Article Length: 1359 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 25313

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