Ohio offered Intel Corp. incentives worth roughly $2 billion to secure a new $20 billion chipmaking factory that the company says will help alleviate a global shortage and create a new technology hub in the Midwest.

Intel wants to move quickly on the Ohio plants, which will support its own line of processors and build chips designed by other firms. Construction is expected to begin this year, with production coming online at the end of 2025.

Among other incentives, Ohio’s Legislature this summer approved a 30-year tax break that will allow Intel to save $650 million.

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