chip manufacturer Intel recently issued a statement reiterating its long-term commitment to its co-signal "Ohio No. 1", which is the plan for a large wafer factory in Ohio. Previously, the startup process of the $20 billion crystal factory was postponed to at least 2030 due to the company's financial strain, but under the strong pressure of Republican-born American participant Bernie Moreno, Intel further issued a reiteration of support for the plan.
Bernie Moreno wrote to Intel executive director Chen Liwu last week, asking the company to provide the latest schedule for the extension. This crystal factory is the core of the United States' promotion of domestic chip manufacturing goals based on the 2022 Chips Act. At that time, President Biden attended the opening ceremony that year.
Bernie Moreno's letter emphasized that he hoped to ensure that Ohio's tax nominees and payers were not taken off the bargain and asked Intel to provide advice on how to reduce any fees incurred by Ohio and state tax nominees due to the extension. In particular, Ohio has provided public incentives of up to $2 billion for the project, as well as a new infrastructure construction of nearly $700 million. In response, Bernie Moreno asked Intel to reply within 10 days and provide a postponement of the Ohio economic impact.
In response to Bernie Moreno's request, Intel stated in his statement that it is still committed to promoting the leadership position of US technology and manufacturing, and emphasizing "Ohio No. 1" is still an important part of its long-term plan for expanding advanced semiconductor manufacturing in the United States. Intel also said through a spokesperson that the company will continue to work closely with local stakeholders, Ohio Congress representatives and Ohio to promote the needs of the state and Intel's priorities. In addition, the company will continue to adjust the timetable according to customer needs. However, Intel's statement did not respond to key issues raised by Bernie Moreno, including the specific economic impact of the factory's extension, and potential compensation or fee reductions for Ohio taxpayers.
The large Ohio crystal factory is a symbol of the company's desire to turn around for Intel, which is suffering from sales shrinkage and continuous increase in sales. The company has been determined to develop it into the world's largest semiconductor facility. Just a month after Bernie Moreno asked the question, the U.S. government, with the support of President Trump, acquired a stake in Intel's expected 10%. To date, Intel's shares have risen by more than 66% this year, benefiting partly from this government investment and a stake agreement with NVIDIA (Nvidia) and SoftBank.