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 four states, a cash infusion that the government says should help the U.S. boost its global share of advanced chip production from zero to 20%.
President Joe Biden plans to talk up the investment on Wednesday as he visits Intel’s Ocotillo campus in Chandler, Arizona, which could be a decisive swing state in November’s election. The Democratic president has often said that not enough voters know about his economic policies and suggested that more would support him if they did know.
Commerce Secretary Gina Raimondo said the deal reached through her department would put the United States in a
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