The price tag for Intel’s stalled Ohio megafab keeps climbing, with the company confirming it will take until 2031 to bring the first plant online.
Two fabrication buildings are planned at the New Albany site, a sprawling complex of nearly 1,000 acres where crews continue to move material even as Intel declines to say how much construction is complete. Mayor Sloan Spalding described the pace as slowed but improving, and said the region is eager for a ribbon cutting.
Intel this month restated that the $28B Ohio One project is central to its long-range manufacturing plans, while warning that schedules will bend to customer demand. The company has been courting chip buyers before locking in full production capacity.
The campus dates to January 2022, when Intel promised an opening within three years. KeyBanc analyst John Vinh said the Gelsinger era overbuilt capacity ahead of customer commitments, a habit the company has since shed. Pat Gelsinger left at the end of 2024, and his successor Lip-Bu Tan further slowed the build, arguing the company had over-invested.
Intel had put more than $5B into the property by the end of last year, and roughly $7B when contract commitments are counted. It remains one of the largest US chip construction efforts under way.
