Tuesday, August 9, 2022 – Cleveland – Mayor Justin M. Bibb was invited to The White House today for President Biden’s signing of the CHIPS and Science Act.
The CHIPS Act, which stands for Creating Helpful Incentives to Produce Semiconductors, will provide tax incentives to expand semiconductor production in the U.S., while directly investing $52 billion in this critical industry. The CHIPS Act includes historic investments to boost production of American-made semiconductors, tackle supply chain vulnerabilities to make more goods in the United States, bolster scientific research and technological leadership, and strengthen the country’s economic and national security at home and abroad.
“The bipartisan passage of the CHIPS Act, coupled with Intel’s plans to invest here, makes Ohio a hub for the semiconductor industry. I am thankful for President Biden’s commitment to this critical legislation that will create thousands of high-quality jobs and, ultimately, lay a foundation for completely reshaping our economy,” said Mayor Bibb.
In January 2022, Intel, a leading manufacturer of semiconductor chips that drive everything from cell phones and computers to cars and military equipment, announced the $20 billion development of two new chip factories in Ohio—the largest single private-sector investment in the state’s history.
The initial phase of the project is expected to create 3,000 Intel jobs, 7,000 construction jobs over the course of the build, and support tens of thousands of additional local long-term jobs across a broad ecosystem of suppliers and partners all over the state.
To support the development of the new site, Intel pledged an additional $100 million toward partnerships with educational institutions to build a pipeline of talent and bolster research programs in the region.
“Today, we strengthen America’s economy, our national security, and our leadership in technology and innovation,” Mayor Bibb said. “In Ohio, residents and businesses across the state will benefit from the economic and educational opportunities that will follow from this for years to come.”
To that end, Mayor Bibb and the administration are working closely with Greater Cleveland Partnership, Team NEO, and other partners to ensure that Northeast Ohio maximizes the opportunity to grow as a leading region for smart manufacturing.
