Biden to tout government investing $8.5 billion in Intel’s computer chip plants in four states

By JOSH BOAK
Associated Press

WASHINGTON (AP) — The Biden administration has reached an agreement to provide Intel with up to $8.5 billion in direct funding and $11 billion in loans for computer chip plants in Arizona, Ohio, New Mexico and Oregon. President Joe Biden plans to talk up the investment on Wednesday as he visits Intel’s facility in Chandler, Arizona, which could be a decisive swing state in November’s election. He often says that not enough voters know about his economic policies and that they would support him if they did. Commerce Secretary Gina Raimondo says the deal would put the United States in a position to produce 20% of the world’s most advanced chips by 2030 — up from the current level of zero.