Intel Ohio One:
What's Built, What's Delayed

Key facts

What Intel announced, and what it didn't

In January 2022, Intel announced an initial investment of more than $20 billion to build two leading-edge chip factories, known as fabs, in Licking County. It said the plan would create 3,000 Intel jobs and 7,000 construction jobs^[A][N]. Intel also said the site could eventually expand to as much as $100 billion and up to eight fabs over the decade^[A]. That possible full buildout is separate from the announced two-fab plan. AFT does not count the possible $100 billion expansion as committed investment.

Intel's Ohio page now describes more than $28 billion in planned investment for the two fabs^[O]. Ohio's grant agreement sets a lower floor: at least $20 billion in fixed-asset investment^[E].

The job figures cover different scopes:

• 3,000: Intel's permanent jobs for the two-fab plan^[A].
• 1,500 manufacturing and 5,000 construction jobs: NIST's figures for the federal award, which supports one funded fab. NIST notes that its figures exclude jobs from Intel's larger planned investment^[F].
• Construction and indirect jobs: these are not permanent manufacturing jobs, and AFT doesn't count them as such.

What has been built

• September 9, 2022: Intel broke ground on the site^[B].
• Through December 31, 2024: Intel's annual report to Ohio, dated February 27, 2025^[D], documented that:
  • All major underground corridors for site utilities were installed.
  • Concrete work had begun on the support buildings for both fabs, including the boiler/chiller and ultra-pure water plants, and steel erection had started on two of them.
  • The power substation serving both fabs was set.
  • The first fab's precast structure was being installed.
  • Concrete placement had begun on the second fab.
• July 24, 2025: Intel said it would further slow the pace of construction in Ohio. It said it would keep the flexibility to speed up if customer demand warranted^[I].
• 2025: according to news coverage of Intel's 2025 report to Ohio, major underground work for both fabs was completed, and above-ground construction of buildings, infrastructure and towers continued^[J][K].

These records describe completed tasks. They do not provide a basis for calculating percentage completion.

Building done vs. production started

Intel's schedule separates finishing a building from starting production.

• First fab (Mod 1): construction completion targeted for 2030, operations for 2030–2031.
• Second fab (Mod 2): construction completion targeted for 2031, operations for 2032^[C].

Before production starts, a completed fab still needs manufacturing tools installed and qualified. Intel describes these dates as targets tied to market demand^[C][I]. In its quarterly report for the period ended June 27, 2026, Intel described the Ohio manufacturing facility as a long-term investment and gave no revised opening date in that passage^[M].

The money: spent, signed contracts and announced investment

• Spent: Intel reported $3,733,115,863 invested in the site through December 31, 2024. Of that, $2.98 billion was attributed to Fab 1 and $0.75 billion to Fab 2^[D].
• Signed contracts: the same report listed another $3.2 billion in contractually committed spending, for a total of approximately $6.9 billion spent or contractually committed^[D]. Contractually committed spending is not money already spent.
• 2025: news reports on Intel's 2025 report to Ohio put that year's spending at about $1.4 billion^[J] to $1.53 billion^[K], with a cumulative total near $5.26 billion^[K]. AFT has not reviewed that report or reconciled the difference between those annual figures.
• Announced investment: more than $28 billion for the two fabs^[O].

Spending and signed contracts measure financial commitments toward the project. They do not indicate how complete the project is.

Ohio's grant agreement

The Ohio Department of Development's $600 million onshoring grant agreement with Intel has an effective date of June 14, 2022^[E].

• Project: two fabs with related structures and offices.
• Deadline: the agreement reviewed by AFT specifies project completion by December 31, 2028, with at least $20 billion in fixed-asset investment, 3,000 new full-time-equivalent jobs and $405 million in annual payroll by that date.
• Disbursement: $300 million per fab, payable within two years after construction of that fab begins. Intel reported having received the full $600 million^[D].
• Clawback: if Ohio determines that Intel has materially failed to meet its obligations, it may require repayment after 60 days' written notice. Ohio may consider market conditions in deciding whether to waive repayment, including whether Intel received expected CHIPS Act funding. If Intel has significantly met its obligations, that is not treated as a material failure.
• Amendments: any change must be in writing and signed by both parties^[E].
• Status: as of March 2026, Policy Matters Ohio reported that Intel had not formally requested an extension^[L]. AFT has not found a later public record of any amendment.

On jobs: Intel reported 163 employees as of December 31, 2024, and 127 full-time equivalents during 2024^[D]. Those figures describe staffing during construction. AFT has not confirmed how the agreement counts qualifying jobs, so it does not compare them with the 3,000-job commitment.

The federal agreement, a separate contract

In November 2024, the Commerce Department finalized up to $7.865 billion in direct CHIPS funding for Intel across four states, including up to $1.5 billion for the Ohio project^[G][F].

On August 27, 2025, Intel and the department signed an amendment to that Direct Funding Agreement, alongside issuing shares of Intel stock to the government^[H]. Intel's filing says the amendment:

• removed earlier project milestones and certain conditions on disbursements
• removed the requirement to share part of the projects' free cash flow with the department
• removed most workforce-related requirements, except those required by law

Intel received $5.695 billion under the amended agreement^[H]. Other federal requirements remain, including:

• limits on expanding chip capacity in certain foreign countries
• restrictions on using award funds for dividends, stock buybacks or facilities outside the United States
• restrictions on certain change-of-control transactions^[H]

These changes concern Intel's federal Direct Funding Agreement. Ohio's grant agreement is a separate contract.

What to watch next

• Intel's next quarterly report, for any update on the Ohio schedule or spending.
• Intel's next annual report to Ohio, due by March 1, 2027^[E].
• Any written amendment or extension to Ohio's grant agreement, or any notice under its repayment clause^[E].
• Any change to the 2030–2032 targets^[C].
• The December 31, 2028 deadline in the Ohio agreement reviewed by AFT^[E].

Frequently asked questions

Sources

• [A] Intel, “Intel Announces Next US Site with Landmark Investment in Ohio,” January 21, 2022
• [B] Intel, Ohio groundbreaking ceremony, September 9, 2022
• [C] Intel, “Ohio One Construction Timeline Update,” February 28, 2025
• [D] Intel, 2024 Onshoring Annual Report and cover letter to the Ohio Department of Development, February 27, 2025
• [E] Ohio Department of Development and Intel, Onshoring Incentive Grant Agreement, effective June 14, 2022
• [F] NIST CHIPS, “Intel Corporation (Ohio — New Albany)”
• [G] NIST, CHIPS incentives award to Intel, November 2024
• [H] Intel, Form 8-K on the Direct Funding Agreement amendment, August 2025
• [I] Intel, Q2 2025 earnings call transcript, July 24, 2025
• [J] NBC4, “Intel spent $1.4 billion in Ohio in 2025, doesn't anticipate further delays,” March 2026
• [K] WHIO, “Intel spent $1.53B in Ohio in 2025…,” March 13, 2026
• [L] Policy Matters Ohio, “Chips Ahoy, Issue 5,” March 7, 2026
• [M] Intel, Form 10-Q for the quarter ended June 27, 2026
• [N] Office of Governor Mike DeWine, Intel announcement, January 21, 2022
• [O] Intel, “Intel in Ohio”