Economic bump in road
Residents of rural and Eastern Ohio were probably steeling themselves for the news out of Intel earlier this month. After all, they have been prepared by the disappointment of one local-economy-saving large employer after another making promises and then disappearing.
To be fair, Intel says it is not disappearing. In fact, they claim this pumping of the brakes is simply a change in timeline. Now, rather than finishing the $20 billion chipmaking project in New Albany by next year, the company says it plans to complete work by late 2026.
More time for communities to figure out their housing and education/training plans, perhaps.
But it’s a jolting thought. What if, after promises that yielded $2 billion in state incentives, Intel slows its timeline to a crawl or changes its mind altogether? Residents particularly of communities along the Ohio River don’t have to work too hard to imagine the possibility.
“We are fully committed to completing the project, and construction is continuing. We have made a lot of progress in the last year,” an Intel spokesperson told Reuters. State officials such as the folks at JobsOhio can only hope that commitment remains strong. And Ohioans must adjust their own expectations.
Even assuming the project will eventually be completed and become the economic powerhouse we’ve been assured, this hiccup should solidify Buckeye State residents’ desire to see a plan to expand and diversify the economy that does not rely on out-of-state saviors.
Lawmakers and other public officials have just gotten a reminder of the importance of focusing on policies that lift contributors of all sizes here in Ohio.
