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Biden administration awards $8.5 billion for computer-chip manufacturing

The Biden administration is awarding up to $8.5 billion in grants and $11 billion in loans to tech giant Intel to support computer-chip production in several states, in one of the nation's biggest investments in high-tech manufacturing seen as crucial to national and economic security.

President Biden on Wednesday joined Intel's chief executive at a massive construction site in suburban Phoenix to announce the awards, which the California-based company will use to support that project and others in Ohio, New Mexico and Oregon.

Intel said it is investing more than $100 billion in the projects, which it estimated will create 10,000 manufacturing jobs and 20,000 construction jobs.


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