Chipmaker Intel said Friday it will invest $20 billion to build a new factory in Ohio, an attempt to help alleviate a global shortage of chips powering everything from phones to cars to home appliances while also signaling the giant company’s commitment to manufacturing crucial technology products in the U.S.
The move could also create a new technology hub in central Ohio as related businesses that support chip manufacturing open new facilities and bring expertise to the region.
Intel said two planned factories, or fabs, will support its own line of processors, as well as its new “foundry” business, which will build chips designed by other firms. Existing chip foundries turn out a vast number of custom-designed chips, mostly in Asia. The business is currently dominated by Taiwan Semiconductor Manufacturing Co., or TSMC.