Intel Gets $20 Billion in US Grants, Loans for Chip Plants
- Package includes $8.5 billion in grants, $11 billion in loans
- Federal funds are expected to begin flowing by end of the year
The US will award Intel Corp. $8.5 billion in grants and as much as $11 billion in loans to help fund an expansion of its semiconductor factories, marking the largest award from a program designed to reinvigorate the domestic chip industry.
The package will support more than $100 billion in US investments from Intel, including efforts to produce cutting-edge semiconductors at large-scale plants in Arizona and Ohio, the Commerce Department announced Wednesday. The money also will help pay for equipment research and development and advanced packaging projects at smaller facilities in Oregon and New Mexico.