Intel announces $36 Billion Hillsboro investment following $8.5 Billion federal funding commitments.
Oregon is one of the four states getting a share of $100 billion in planned spending by the tech giant.
Intel is rolling out $100 billion in spending across four states — with Oregon getting the largest chunk.
The tech giant’s unveiling of spending plans followed an announcement Wednesday from the Biden Administration that Intel will receive $8.5 billion from the 2022 CHIPS and Science Act and up to $11 billion in federal loan guarantees. President Joe Biden announced the federal funding for Intel in Arizona, one of the other states with a big Intel presence, and a critical swing state in the upcoming 2024 election.
According to information released Wednesday, Intel plans to spend $36 billion in Oregon to modernize and expand its research and development hub in Hillsboro.
In its two-page fact sheet detailing “The Silicon Forest” spending and federal investments, Intel said the money will go to “expand and modernize its technology development facilities to support the development and production of future process nodes, enabling Intel to invent and deliver the process technologies of the future.”
Oregon Democratic leaders, including Gov. Tina Kotek, Sens. Ron Wyden and Jeff Merkley and Rep. Suzanne Bonamici, said in statements they were pleased to see federal investment turning into spending on Intel’s campus in Hillsboro.
“I’m thrilled that Intel will expand Oregon’s world-class research and development facilities, keeping Hillsboro’s Gordon Moore Park at the forefront of innovation,” Bonamici said. “Importantly, this project will create thousands of sustainable, family-wage jobs.”
The funding will build on what the company says has been $59 billion in investments in its Hillsboro facilities to date and may help reassure Oregonians who have seen the company make significant investments elsewhere. Oregon is just one of the four states Intel is investing in.
Its $100 billion plans, detailed Wednesday, include nearly as much spending in Arizona — $32 billion — as it’s planned for Oregon. New Mexico is receiving $4 billion. Intel plans to spend the remaining $28 billion in Ohio, according to reports.
Source: Oregon Public Broadcasting
