Biden Pleads Intel to Expand Their Semiconductor Manufacturing and Become a Helping Hand in Economic Revival.
“During this pandemic, the impacts were felt by your bank accounts. In his remarks at the White House, President Joe Biden stated that COVID-19 has exacerbated chip difficulties, resulted in the delayed release of products such as automobiles and dishwashers, as well as strong demand for these products.
“Because supply is limited, we have found ourselves in a position where we are much behind the curve. Prices are increasing,” he continued.
Intel’s investment intends to increase manufacturing in order to assist meet the demand for semiconductors in the face of a worldwide scarcity of computer chips.
“My administration will continue to use all of the tools at our disposal to shore up our supply chains, increase our economic resilience, and create more jobs in the United States,” Biden said.
After all, it’s about national security, economic security, and the preservation of employment opportunities at the end of the day. Jobs that are well-paying and decent enough to support a family.”
Intel CEO Patrick Gelsinger, as well as Commerce Secretary Gina Raimondo and Ohio Senators Rob Portman (R) and Sherrod Brown (D) were in attendance for Biden’s remarks (D).
A 1,000-acre plot of land in Licking County will be used for Intel’s “mega-site,” which will be built outside of Columbus, Ohio. Construction is planned to begin near the end of 2020 and be completed by the end of 2025.
When asked how the United States could ensure the supply of raw materials from areas such as Afghanistan for the manufacture of semiconductors, Biden responded that the country has access to raw materials “we didn’t know we had.”
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“That’s something we’re looking into.” There is a great deal that is not in Afghanistan. A lot, we’ve been learning about it and heading on the right path to figuring out where all the raw ingredients are,” he explained.
Biden also addressed anyone in the United States who would be interested in learning why semiconductors are so crucial.
According to him, semiconductors are small computer chips that run nearly everything in our life, including phones, automobiles, refrigerators, laundry machines, hospital equipment, the internet, the electric grid, and many other things.
It is anticipated that the Intel project will initially generate 7,000 construction employment and 3,000 Intel employees, with thousands more long-term jobs projected to be created in the years ahead.
Biden hailed Intel’s investment as a step forward in the quest to increase American competitiveness.
What this is about, according to the president, is being able to say, “Manufactured in Ohio, made in America” – something that used to be always possible 25, 30 years ago.
According to Biden, seventy-five percent of chip production takes place in East Asia, with Taiwan producing 90 percent of the most advanced chips.
“Other countries are closing in on us quickly….” As a result, even though we are the world leader in chip design and research, we only produce 10% of all computer chips today. “Right now, we don’t have the capability to manufacture the most modern chips,” he explained.
The U.S. Innovation and Competition Act, championed by Senators Portman and Brown, was urged to be passed by Congress so that the United States can invest in manufacturing and address the global semiconductor shortage.
He described it as “another piece of historic bipartisan legislation,” joining the bipartisan infrastructure bill he signed in November as “another piece of historic bipartisan legislation.”
“For the first time in two decades, U.S. infrastructure spending will increase faster than China’s infrastructure investment,” President Joe Biden predicted.
Our global standing has improved to the greatest extent it has in a very long time. In this regard, he cited Intel’s historic investment as an example.
