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U.S. announces nearly $20 billion in subsidies to Intel
The U.S. Department of Commerce announced on March 20 that the United States will provide Intel Corporation with $8.5 billion in grant subsidies and up to $11 billion in loans to help the expansion of its semiconductor factories.
The Commerce Department said the program would support Intel's more than $100 billion in U.S. investments, including efforts to produce cutting-edge semiconductors at large factories in Arizona and Ohio. The funding will also be used to pay for equipment development and advanced packaging projects at smaller factories in Oregon and New Mexico.
In addition, Intel will receive an investment tax credit from the Treasury Department, which may cover up to 25% of capital expenditures, according to the Commerce Department.
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