The Ohio Legislature passed a capital budget bill on Wednesday that would plow $1.1 billion into tax and development incentives for a $20 billion Intel Corp. semiconductor chip factory planned for outside Columbus.
The bill (H.B. 687), once signed, will codify part of a $2.1 billion incentive package that helped land the company’s pledge to build two fabrication plants on a 1,000-acre site in New Albany. The bill rewrites Ohio’s existing “megaproject” incentives program to give Intel and its suppliers commercial activity tax, sales tax, and use tax breaks, and it creates a $600 million “onshoring” cash ...