Intel's first chip manufacturing plant in Ohio may not open until 2030 at the earliest. Intel has slowed construction of its promised $28 billion semiconductor project in central Ohio for the second time this year, according to a report in the Columbus Dispatch.
The chipmaker revealed that construction work will not be completed until 2030, and the factory may not actually open until 2031.
The factory, one of two Intel plans to build in Ohio, was originally scheduled to begin operating this year. Intel told the Columbus Dispatch it remains committed to the project and has invested $3.7 billion locally.
According to reports, Intel's financial difficulties are an important reason for the delay in the opening of the chip factory. Intel Executive Vice President Naga Chandrasekaran told employees in a message on Friday that pushing back the timeline would allow Intel to better "manage capital responsibly" and align factory operations with market demand.