Biden touts ‘landmark agreement’ with Intel during visit to Arizona

President Biden on Wednesday boasted about a “landmark agreement” between his administration and Intel to invest up to $8.5 billion in federal funds in semiconductor facilities in Arizona and three other states, arguing it would transform the country’s manufacturing capacity.

Biden toured an Intel campus in Chandler, Ariz., where he delivered remarks on the latest public-private partnership struck through the bipartisan CHIPS and Science Act.

The funding would support construction and expansion of Intel facilities in Arizona, Ohio, New Mexico and Oregon, and create roughly 20,000 construction jobs and 10,000 manufacturing jobs, many of which will not require a college degree, Biden said.