Intel is delaying its construction timeline for its $20 billion chipmaking project in Ohio due to business conditions and demand environment, the company confirmed to 10TV on Thursday.
The initial timeline had chip-making starting in 2025 but construction on the project’s manufacturing facilities now isn’t expected to be finished until late 2026, the Wall Street Journal reports.
"Managing large-scale projects often involves adapting to changing timelines, a common occurrence in the industry. Our decision-making is anchored in market dynamics and responsible capital management," said an Intel spokesperson.
Intel said that due to the sheer size of the project, it depends heavily on funding from the CHIPS Act and business conditions. They added that typical construction timelines for facilities such as this are three to five years from the groundbreaking, which took place in September 2022.
So far, Intel has hired more than 100 Ohioans and currently has 800-900 construction workers on the site and expects to have several thousand by the end of the year.
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