Intel's Ohio Chip Dreams Delayed Until 2030

Intel's ambitious Ohio semiconductor project just got a reality check. The company's first factory in New Albany won't open until 2030 - five years later than planned. The price tag? A cool $28 billion.

Financial headwinds hit Intel hard in 2024. Their stock took a 57% nosedive. The Silicon Valley company slashed 15,000 jobs globally. Then came a management shake-up: CEO Pat Gelsinger stepped down in December, replaced by two interim leaders.

Despite the delay, construction continues - just slower. Workers have already poured enough concrete to fill 80 Olympic swimming pools. Twenty cranes dot the skyline. Intel has pumped $3.7 billion into the project so far.

The company isn't backing out. They've secured $2.2 billion in federal CHIPS Act funding. Local colleges are already training future chip makers. Intel executive Naga Chandrasekaran promises the project will make everyone "proud for decades to come."

Ohio officials maintain their poker face. Governor Mike DeWine's office calls the delay a "disappointment" but stands by Intel's commitment. The state offered $300 million in grants per factory, provided they opened by 2028. That deadline now looks quaint.

Why this matters:

• The U.S. semiconductor independence just hit the snooze button - five times
• When a $28 billion project runs late, even the concrete pours slower

Read on, my dear:

• The Columbus Dispatch: Intel delays $28 billion Ohio chip factory in New Albany again, to 2030 or 2031