Intel says Ohio expansion may be delayed, scaled back as CHIPS Act stalls: report
Justin Sullivan/Getty Images News

Intel (NASDAQ:INTC) said in a statement on Thursday that its plans to build a $20B plant in Ohio to manufacture semiconductors could be delayed or scaled back as Congress has not passed the CHIPS Act, according to CNBC.
The news outlet, which first reported the news, cited an Intel spokesman (INTC) who said that "the scope and pace of our expansion in Ohio will depend heavily on funding from the CHIPS Act."
The spokesman added that funding for the CHIPS Act has moved "more slowly than we expected and we still don't know when it will get done."
Intel (INTC) shares fell slightly more than 0.5% to $37.18 in mid-day trading on Thursday.
The Santa Clara, California-based Intel (INTC) called on Congress to act in order to go ahead with the Ohio plant and other projects "to help restore U.S. semiconductor manufacturing leadership and build a more resilient semiconductor supply chain."
The CHIPS Act was passed in the Senate last year, providing $52B in subsidies for semiconductor companies. However, it is still not law as the House and Senate reconcile differences in both of their legislation that are unrelated to semiconductors, including climate provisions and issues dealing with Chinese trade, the Washington Post reported.
In January, Intel (INTC) chose the Greater Columbus area to build its factory that could employ as many as 3,000 workers on a 3,190 acre plot of land near the Columbus suburb of New Albany.
Approximately 12% of the world's chips are made in the U.S., compared to roughly 80% that are built in Asia, according to industry data.
On Thursday, GlobalFoundries (GFS) CEO Thomas Caulfield said the semiconductor industry will require "trillions of dollars" of investment to reach a point where it can meet global demand.
Intel (INTC) recently made its new Arc A380 graphics chip available in China, but added the new GPU would be available in other regions later in the summer.