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    FRANK LEO & ASSOCIATES

    #1 RE/MAX TEAM IN TORONTO & THE GTA**

    Intel plans to invest US$20 billion in a new computer chip facility in Ohio amid a global shortage of microprocessors. These chips are used in everything from phones and video games to cars and trucks. Many companies relied on Asia for the production of computer chips and shortages began to arise in the U.S. and Europe after the pandemic. 

    According to the Semiconductor Industry Association, the U.S. share of the worldwide chip manufacturing market has dropped from 37 per cent in 1990 to 12 per cent today. The two chip factories on a 1,000-acre site in Licking County, east of Columbus expected to generate 3,000 company jobs. It will also create 7,000 construction jobs and support tens of thousands of additional jobs for suppliers and partners.

    Construction is scheduled to begin this year with production coming online in 2025. Shortages of semiconductor chips have directly impacted the ability of U.S. automakers to produce vehicles. Last year, General Motors was unseated by Toyota as the nation’s top-selling automaker for the first time.

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