Ohio Promised $2.1 Billion in Incentives to Lure Chipmaker Intel

The state of Ohio and its private economic development group offered Intel Corp. $2.1 billion in incentives to lure the chipmaker to the state, winning a national competition for the employer.

The chip-maker announced last week that it will invest $20 billion to construct two fabrication plants on a 1,000-acre site in New Albany, near Columbus.

Once Intel develops the site, local property tax abatements will further enhance the $2.1 billion subsidy package, which exceeds what other high-profile companies have been promised in recent years for their projects.

Intel said it expects the plants to be operational by 2025, with ...