Biden touts Arizona as America's 'future' as government invests $8.5 billion in chipmaker Intel
- The Biden administration reached a deal for Intel to receive $8.5 billion in direct funding and $11 billion in loans to boost US chip production.
- The agreement aims to increase US production of advanced chips, with Intel planning investments in multiple states and claiming tax credits.
- Intel's funding is expected to create 30,000 jobs, facilitate $100 billion in investments over five years, and lead to workforce training and childcare support.
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Leaning Left6Leaning Right1Center3Last Updated1 month agoBias Distribution60% Left