Joe Biden makes historic investment in US microchip production
It’s no secret that things didn’t go the way Joe Biden wanted, which is why he had to resort to new investments to get back into the leagues.
It is important to add that at the beginning of his term, the President of the United States had to deal little by little with pressure, despite the decline in his popularity.
Notably, Biden arrives on Friday January 21st with news that leaves a good taste in the mouth by emphasizing that it is a historic investment.
That’s $20 billion for Intel, to produce semiconductors in the United States, in the context of material shortages fueling inflation.
“This is a truly historic investment in America for American workers,” he said.
Namely, the numbers in basic products in the United States have increased dramatically, so it was very important that Congress pass a bill to boost manufacturing, development, and research in order to alleviate the global shortage of semiconductors.
“I want to see Congress pass this bill now and have it on my table” for signature, the president said.
For its part, Intel Corporation announced today, January 21, that it will start building two semiconductor plants near the Ohio capital of Columbus, to be ready by the end of the year.
It should be noted that all this comes with a sincere aim to start production of chips, but it will not be until 2025 when they officially give the initial indication, because this could not be before.
“Today’s announcement is the latest indication of progress in the Biden-Harris administration’s efforts to accelerate domestic manufacturing of vital goods such as semiconductors…and create good jobs,” the White House said in a statement.
It is known that Intel plans to hire about three thousand new employees for these sites, the construction of which will occupy a little more than seven thousand workers, which will reduce the unemployment rate.
On the other hand, Biden lamented that semiconductor manufacturers have left the United States in recent decades, and noted that the country currently invests less than 1% of its GDP in chip research and development, which has made China ahead of them in this sector.
“Ultimately it is about national security, economic security and jobs,” he said.
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