The technology company has committed to creating 3,000 jobs, generating $405 million in annual payroll and making fixed asset investments worth more than $20 billion by the end of December 2028 in Ohio as part of the grant agreement, the Ohio Department of Development said Monday.
Intel has invested over $3 billion in the planned manufacturing campus, including spending and contractual commitments for the 926-acre site.
Starting in March 2024, the semiconductor chip manufacturer should submit an annual performance report containing information on construction activity, distribution of grant funds and job creation initiatives in accordance with the onshoring grant agreement.
The company should also report on research and development spending and supply chain activity in support of the project, which is expected to create 7,000 construction jobs.
In February, Jim Brinker, president and general manager of Intel’s federal arm and a three-time Wash100 awardee, called the development of the manufacturing site in Ohio a key step in addressing the growing demands for U.S.-made computer chips.
In September 2022, Intel kicked off construction work on the first of two chipmaking facilities in the county.