A ceremonial groundbreaking scheduled for tech giant Intel's $20 billion semiconductor facility has been put on hold, after months of build up.
There are reports that CEO Patrick Gelsinger broke the news to Ohio Governor Mike DeWine earlier this week, citing frustration over Congress' glacial pace in authorizing crucial legislation. The CHIPS Act, which would provide over $52 billion in subsidies for semiconductor chip manufacturers like Intel, is part of a larger innovation package that has become mired in a partisan debate.
A statement from an Intel spokesperson says the company made it clear in January that "The scope and pace of our expansion in Ohio will depend heavily on funding from the CHIPS Act".
Officials say the delay is not a sign that Intel is pulling the plug on the project, which is receiving more than $2 billion in tax credits, infrastructure spending and other incentives. The company says it is still committed to the $20 billion dollar plan announced earlier this year, but without funding provided the CHIPS Act, a larger $100 billion dollar investment is less certain.
