Intel plans to spend more than $20 billion building two chip factories in Ohio

Chip manufacturing giant Intel has announced plans to pour more than $20 billion into constructing two factories in the Buckeye State.

It is anticipated that construction will commence later this year and that chip production will begin in 2025, according to Intel.

While $20 billion is already massive sum, the tech giant says that over the coming decade, it could drop as much as $100 billion into the site.

"Spanning nearly 1,000 acres in Licking County, just outside of Columbus, the 'mega-site' can accommodate a total of eight chip factories – also known as 'fabs' – as well as support operations and ecosystem partners. At full buildout, the total investment in the site could grow to as much as $100 billion over the next decade, making it one of the largest semiconductor manufacturing sites in the world," the company's press release said.

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