Colliers | Columbus
INTEL: INNOVATING AND INVESTING IN OHIO
Written by: Brooke Ferman
As a Research Analyst, Brooke specializes in research capabilities, providing support for the Colliers Columbus Office, Industrial, Retail, and Multifamily Groups. She is responsible for executing data reports, maintaining a commercial property database, reporting quarterly trends, performing data analysis and utilizing statistical information to predict future behavior in the market. She also assists the marketing and research director on special projects and corporate initiatives.
Intel in Ohio
Ohio is on the rise as Intel decided to invest more than $20 billion in construction for its new site. The company will build two new factories establishing a new epicenter for chipmaking. This venture will “boost production to meet the surging demand for advance semiconductors, powering a new generation of innovative products from Intel and serving the needs of foundry customers as a part of the company’s IDM 2.0 strategy.” Intel has created excitement around the announcement with the label, Intel in Ohio: You Were Built For This. The landmark investment is outside the city of Columbus in New Albany, Ohio. Groundbreaking for Intel’s new location is set for September 9th, with attendance from President Biden as confirmed from the White House. The plan is projected to be finished by 2025.
“Today’s investment marks another significant way Intel is leading the effort to restore U.S. semiconductor manufacturing leadership,” stated Pat Gelsinger, CEO of Intel. “Intel’s actions will help build a more resilient supply chain and ensure reliable access to advanced semiconductors for years to come. Intel is bringing leading capability and capacity back to the United States to strengthen the global semiconductor industry. These factories will create a new epicenter for advanced chipmaking in the U.S. that will bolster Intel’s domestic lab-to-fab pipeline and strengthen Ohio’s leadership in research and high tech.”
There were over 40 other potential locations across the nation Intel was looking into for its new construction. New Albany being the chosen place is a great win for Ohio, being called America’s new “silicon heartland” by Intel. New Albany is a smaller, wealthy suburb community of 12,000 residents. Many see this area as encouraging and promising in a post-pandemic realm. Capital Frontiers states, “talented professionals with young families will have less tolerance for the expenses and inconveniences of life in the big city.”
“Intel chose New Albany for several reasons: the access to water-rich land, lock of limitations to land ownership, industry-friendly regulatory policy, a receptive community, tailored financial and non-financial incentives, proximity to aviation and automotive manufacturing, a pipeline of nearby engineering talent, and a location that offers low housing prices and good schools for its workers.”
Columbus State Community College (CSCC) provided a report on the work Intel will bring to Ohio. Seventy-percent (70%) of the new jobs will be manageable with a two-year degree, averaging an income of $55k-$65k. Over 7,000 construction jobs and 3,000 new direct jobs will be presented with the start of the new location.
Other companies are projected to go along with Intel to the Midwest in the coming years. The first of the following is Prudential Cleanroom Services, who is already looking to employ 80 individuals with salaries as high as $100,000.
How to Stay Updated about Intel
Colliers | Columbus is creating an online section on its resource page, including more information dedicated to the Intel development with a project overview, interactive maps, articles and more! More details will be coming soon.
Sources: www.intel.com, 10TV, CSCC.edu, Capital Frontiers