Feb 2
2022
Intel lured by $2 billion subsidy
The microchip subsidy game is getting more and more costly for taxpayers. Multiple media outlets reported this week that it cost the state of Ohio more than $2 billion worth of incentives to convince tech-giant Intel Corp. to invest $20 billion in the construction of two chip-making plants just outside of Columbus. The subsidy package for what’s been described as the largest single private-sector company investment in Ohio history reportedly involves $1.2 billion in cash incentives, including a direct cash grant to the company valued at $600 million. Economic development officials in Ohio described the $600 million as an “onshoring[...]