Intel has spent $1.5 billion and hired 69 workers so far on what is the state’s biggest economic development project, a fraction of its $20 billion promise to build two factories in Licking County that will create 3,000 high-paying jobs.

Intel sad it remains fully committed to the entire investment of dollars and jobs in the area.

The semiconductor company also now says it anticipates construction of both plants to be finished in 2026-27 and to become operational in 2027-2028, according to a state report released Friday afternoon detailing Intel’s progress through 2023 on the project that was announced two years ago.

Initially, Intel said the plants would begin producing semiconductors by 2025.

The annual report is required of Intel as a condition of a $600 million grant designed to drive production of the tiny devices that power everything from computers to cars to military equipment back to the U.S. Intel received the money last September.

All together, Intel is receiving more than $2 billion in incentives from the state and New Albany.

“We are making great progress growing the Silicon Heartland,” Jim Evers, an Intel vice president in charge of the Ohio site, told the state in the report. “In addition to the approximately $1.5 billion investment in completed spends through 12/31/23 referenced in the report, Intel has an additional $3 billion in contractually committed spends underway, totaling $4.5 billion committed toward our Ohio One projects.

“This investment is growing every day as we work to establish a new manufacturing campus to build leading-edgesemiconductor chips right here in Ohio.”

“Transparency is always important, and we believe the public should be kept well-informed on the statewide impact of this transformative project,” Gov. Mike DeWine said in a statement.

Biden to announce federal grants to Intel next week, report says

Separately, President Biden is traveling to Arizona next week where he is expected to announce how many billions of dollars in federal aid from the CHIPS Act Intel will receive, Reuters reported Friday.

The $52.7 billion bill passed in 2022 includes $39 billion in grants along with loans, loan guarantees and tax credits as part of the push by the Biden administration to restore production of semiconductors to the U.S.

The Biden campaign has confirmed the visit to Arizona on Tuesday and Wednesday as part of an effort to mobilize voters in battleground states, The Arizona Republic reported Friday.

Along with Intel’s project in Ohio, Intel has been expanding its operations elsewhere in the U.S. as part of the reshoring effort, including Intel’s expansion in Chandler, a Phoenix suburb, where Intel is investing $20 billion to build two additional factories.

It has applied for money for all its expansion projects in the U.S.

Intel workers live in 14 Ohio counties

As of Dec. 31, Intel has hired 70 workers with 69 living in 14 Ohio counties and one out of state.

In addition to direct Intel employees, construction workers have come from 75 of Ohio’s 88 counties so far.

The state anticipates that the project will ultimately create 20,000 jobs across the state and add $2.8 billion to the state’s economy.

Intel also said its supplier network in Ohio has grown from around 150 when Intel announced the project more than 350 today.

Power company AEP Ohio is the top supplier, according to the report. Bechtel, the construction manager at the project is No. 2.

mawilliams@dispatch.com

@BizMarkWilliams