FILE - The symbol for Intel appears on a screen at the Nasdaq MarketSite in New York, Oct. 1, 2019. Intel’s announcement of the $20 billion manufacturing operation bringing thousands of jobs to central Ohio has been greeted as an economic boon. But it has also raised concerns about the impact on a region already suffering a housing shortage. Intel has announced that CEO Pat Gelsinger is retiring after a career spanning more than 40 years.
While we have made significant progress in regaining manufacturing competitiveness and building the capabilities to be a world-class foundry, we know that we have much more work to do at the company and are committed to restoring investor confidence," Yeary said in part in a statement. The decision follows the Biden administration's plan to reduce part of Intel's $8.5 billion in federal funding for computer chip plants across the country, including in Ohio.