The five-member Ohio Tax Credit Authority board is expected to meet Monday to consider the 30-year, $650-million job creation tax credit for Intel's new semiconductor chip campus in New Albany.
The tax credit is a part of the $2 billion dollar incentive deal the state used to coax Intel to Licking County. The board is charged with reviewing and approving applications for tax credit assistance, working alongside the Ohio Department of Development. The tax credit is the only part of the incentive package that hasn’t yet been approved. Legislators approved other elements earlier this year.
The project is expected to create about 3,000 permanent jobs and has been one of the signature achievements of Gov. Mike DeWine's time in office.
“It’s really a game changer; a game changer for our economic future," DeWine said shortly after the project was announced earlier this year.
"We won. They chose Ohio," DeWine said.
Critics have said the state should require more of Intel in exchange for public money, like requiring employees to be Ohioans.
“The least that we could require is that Ohioans are the main ones who are working at this facility. That seems like an extremely modest thing given how much the state and we as Ohioans are all spending to support it," said Zach Schiller, research director for the left-leaning think tank Policy Matters Ohio.
Construction of the semiconductor factories, often referred to as "fabs," recently started. The facilities are expected to begin making semiconductors in 2025.
