Advanced Search Close Search
Biden touts Arizona as America's 'future' as government invests $8.5 billion in chipmaker Intel
National

Biden touts Arizona as America's 'future' as government invests $8.5 billion in chipmaker Intel

  • By SEUNG MIN KIM and JOSH BOAK Associated Press

President Joe Biden is celebrating an agreement to provide Intel with up to $8.5 billion in direct funding and $11 billion in loans for computer chip plants around the country. Biden talked up the investment in the political battleground state of Arizona and called it a way of "bringing the future back to America." The funding will support computer chip plants in Arizona, Ohio, New Mexico and Oregon. It's a cash infusion the government says should help the U.S. boost its global share of advanced chip production from zero to 20%. The Democratic president often says not enough voters know about his economic policies and they'd support him if they did.