COLUMBUS, Ohio — One of Ohio's top union leaders is hopeful that the Trump administration's new $9 billion investment in tech giant Intel will help push the state's long-awaited semiconductor manufacturing plant forward.
“The Intel project, it's been like a roller-coaster,“ said Mike Knisley with the Ohio State Building and Construction Trades Council.
Ohio's long-awaited multi-billion-dollar facility has faced delay after delay after delay. We’ve been reporting for years on Intel’s massive Central Ohio semiconductor manufacturing facility — one that was supposed to be operational by now — and its financial hardships.
RELATED: With Intel's latest layoffs, will the Ohio plant ever be built?
"I think the investment from the government or even outside sources would bring some stability to the company and to the project itself, especially here in Ohio," Knisley said.
Thousands of workers have been waiting on the sidelines, Knisley says, but he adds that could change under President Donald Trump’s new deal.
"They've had some bad management over the years and they got lost," Trump said Friday.
The president announced that the government will make a nearly $9 billion investment in Intel stock, a 10% stake in the company.
"This comes to the United States of America, and I said, 'I think it would be good having the United States as your partner,' [CEO Lip-Bu Tan] agreed, and they've agreed to do it, and I think it's a great deal for them," Trump said. "And I think it's a great deal. He walked in wanting to keep his job. and he ended up giving us $10 billion for the United States, so we picked up $10 billion, and we do a lot of deals like that. I'll do more of them."
Weeks ago, Trump and U.S. Senator Bernie Moreno asked for Tan to resign due to his reported ties to the Chinese government. After a meeting with Tan, Trump changed his mind.
But on Monday, Intel warned of "adverse impacts" due to the government being a "significant stockholder."
"Sales outside the US accounted for 76% of the Company’s revenue for the fiscal year ended December 28, 2024," Intel wrote in a business filing. "Having the US Government as a significant stockholder of the Company could subject the Company to additional regulations, obligations or restrictions, such as foreign subsidy laws or otherwise, in other countries."
Although rare, Case Western Reserve University law professor Jonathan Entin said that after the 2008 crash, the federal government took temporary ownership interest in both GM and Chrysler.
"The goal was to keep those companies afloat at a time when they were facing the prospect of just failing, and the idea was not to maintain a long-term government ownership stake," Entin said.
The Obama administration sold off its stake within a few years, he said, but that instance was also different because it had congressional approval.
"Up the burden of persuasion on the government to be able to say, 'Well, just because it hasn't been done doesn't mean it couldn't be done,'" Entin said.
Knisley shared concerns about the Trump administration’s say in the company’s future projects, but Intel said in its official press release that the government won’t have a seat on the board.
"I don't believe that the government should have the majority stake in it or should have a say over a private company's business dealings," Knisley said.
We reached out to Intel to hear how this deal would impact Ohio and didn’t hear back. In their official press release, the company said that this would “accelerate” their effort to make chips.
"I'm cautiously optimistic," Knisley said. "I would love to see it compress a little bit and get it done before 2030."
Knisley is meeting with construction managers this week to talk about the announcement.
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