Vorys is proud to announce the firm’s participation in the largest single private-sector investment in Ohio history. On Friday, January 21, 2022, Intel announced plans for an initial investment of more than $20 billion in the construction of two new leading-edge chip factories in Licking County, Ohio that will span nearly 1,000 acres. The investment will help boost production to meet the surging international demand for advanced semiconductors.
A team of Vorys attorneys assisted Intel with various aspects of the massive project.
“Vorys has had the awesome opportunity and responsibility to assist with some of the nation’s largest economic development projects in recent years, and we could not be more proud to assist Intel with this transformative project in the state of Ohio,” said Scott Ziance, the leader of Vorys’ national economic development incentives practice. “We are excited to join Intel in celebrating what its commitment means for a state, region and country.”
According to Intel, the initial phase of the project is expected to create 3,000 Intel jobs, 7,000 construction jobs over the course of the build, and support tens of thousands of additional local long-term jobs across a broad ecosystem of suppliers and partners. To support the development of the new site, Intel pledged an additional $100 million toward partnerships with educational institutions to build a pipeline of talent and bolster research programs in the region.
In addition to Intel’s presence in Ohio, the investment is expected to attract dozens of ecosystem partners and suppliers needed to provide local support for Intel’s operations – from semiconductor equipment and materials suppliers to a range of service providers. Investments made by these suppliers will not only benefit Ohio but will have a significant economic impact on the broader U.S. semiconductor ecosystem. This will be the first leading-edge semiconductor site in the Midwest.
To learn more about the project, please click here.
About Vorys: Vorys has one of the largest multi-state economic development incentives practices based in a U.S. law firm. Our work spans the nation, having consulted on incentives deals and site selection projects in more than 30 states, for companies of all sizes. Vorys currently ranks as one of the 200 largest law firms in the United States, according to American Lawyer magazine, with 375 attorneys in eight offices in Ohio, Washington, D.C., Texas, Pennsylvania and California.