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It's official. Intel has formally submitted a report to the Ohio Department of Development that updates the timeline for its semiconductor fabrication plant in New Albany. Now, according to a report by WCMH, Intel's planned Ohio One facility will be finished between 2026 and 2027 before becoming operational between 2027 and 2028.
Having secured $3.5 billion in funding to produce semiconductors for the U.S. military, surely Intel executives intend to fulfill their promises.
"This investment is growing every day as we work to establish a new manufacturing campus to build leading-edge semiconductor chips right here in Ohio," said Intel Vice President and Ohio Site Manager Jim Evers.
The investment may be growing, but the timeline is creeping ever closer to the deadline set when Intel accepted millions in taxpayer funding. The deal was that Intel would get to keep the money if the plants are operating with at least 3,000 workers by the end of 2028.
If not, Ohio is supposed to get its money back.
"Construction logistics are quite amazing," Ohio Lt. Gov. Jon Husted said. "Barges of equipment are coming up the Ohio River, getting offloaded in Adams County -- and then the organization of enormous truckloads of equipment making their way to Licking County -- adds to the billions invested already by the company and the growing number of Ohio-based suppliers."
While that confidence may still be justified, the new timeline must serve as a reminder to keep a close eye on the situation -- and to be vigilant in ensuring Intel sticks to its bargain.