While not everyone agrees on just how the Intel development will impact Ohio, just about everyone agrees that it will impact Ohio in a variety of ways from housing to construction to planning and development.
We took a look at just some of the numerous news articles written on the subject and here’s what we found.
Licking County housing forecast: What to expect from Intel’s arrival
Intel says the two semiconductor factories it plans to build in Licking County will employ about 3,000 workers when they open in 2025, with the potential of more if additional factories are built. In addition, the company estimates that 7,000 workers will be needed for the three-year construction project.
Intel also estimates that its factories will result in 10,000 indirect jobs from suppliers and services that cater to the company and its workers. In fact, in the long run, the indirect jobs created by Intel may turn out to be more significant than the Intel jobs themselves on area housing.
“This could end up being not only one of the largest single employers but have the largest and broadest and deepest multiplier effect in the region,” says Michael Wilkos, senior vice president of community impact at United Way of Central Ohio.
Housing Intel construction workers, in fact, will provide the most immediate demand on central Ohio housing. While the majority of the estimated 7,000 construction workers for the factories are likely to come from the Columbus area, many will move to the area during the project.
Investors are Scooping up Residential Properties Near Central Ohio’s Future Intel Site
According to this Columbus Monthly article, with an investment of at least $20 billion in its facility, Intel will churn out computer chips while significantly impacting the communities in which it is located and those nearby.
It seems that some of the company’s employees and outside-of-Ohio real estate investors are not waiting for the facility to be operational in 2025, as available housing in the vicinity of Intel Corp.’s future development south of Johnstown and northeast of New Albany is scarce, and demand is already growing.
Local real estate agents say they are fielding calls from current Intel employees and investors from California, Oregon, and Arizona who are seeking homes right now.
While homes in Central Ohio, which is considered the fifth hottest real estate market in the nation by Norada Real Estate Investments, are already tough to find, finding available land around the Intel site that can be supported by needed infrastructure for new homes is also going to be a challenge.
Intel Invests In Ohio
In announcing its plans for an initial investment of more than $20 million for two new chip factories in Ohio, Intel also committed to investing in the community to help make it more vibrant for everyone. The investment will help boost production to meet the surging demand for advanced semiconductors.
While the initial plan is to build two plants, the site that spans nearly 1,000 acres in Licking County, just outside of Columbus, can accommodate a total of eight chip factories as well as supporting operations and ecosystem partners.
As the largest single private-sector investment in Ohio history, the initial phase of the project is expected to create 3,000 Intel jobs, 7,000 construction jobs over the course of the build, and support tens of thousands of additional local long-term jobs across a broad ecosystem of suppliers and partners.
To support the development of the new site, Intel pledged an additional $100 million toward partnerships with educational institutions to build a pipeline of talent and bolster research programs in the region.
Giant Intel semiconductor plant in Ohio to create economic ripple that will reach the Miami Valley
The groundbreaking for the $20 billion Intel semiconductor plant in central Ohio promises to create a potentially seismic economic ripple that will reach the Miami Valley.
“The next question people usually ask is well how is that going to impact, you know, fill in the blank: Cleveland, Cincinnati, Dayton, Toledo, Akron? And it’s going to impact all of us in a good way,” says Jeff Hoagland, Dayton Development Coalition president and CEO.
Intel will be the largest private sector investment in Ohio history and the company’s largest facility in the world and will ultimately boost the bottom line of small companies throughout Ohio that work with it.
In addition, Intel officials have said there are plans to expand the project to as much as $100 billion over a decade. That would make it one of the largest semiconductor manufacturing sites on the planet.
Ohio short on housing ahead of Intel arrival
According to John Melchi, executive director for The Building Industry Association of Central Ohio, “you can’t just create jobs without thinking about the homes and where those places people are going to live.”
So what exactly does the Intel investment in Ohio mean for the housing market? Even before the Intel announcement, Ohio was already behind the mark with its jobs-to-housing ratio. But there is time to catch up, as there are significant opportunities for residential development in the Central Ohio region and many projects are already underway.
The BIA is working to build thoughtfully and responsibly. They said they want to keep the character of the communities, but it is necessary to stay ahead of the game so housing can stay affordable. That means Ohio has to step on the gas for the growth of the region to be successful.
As Intel expands into central Ohio, communities must increase housing, planners say
To prepare for Intel’s planned construction of two leading-edge chip factories in Licking County, central Ohio communities must increase and diversify their housing stock, simplify zoning regulations and invest in long-term planning that will support the projected population growth as new jobs are created.
This was the focus of the first in “The Impacts of Intel” discussion series hosted this summer by Ohio State’s Center for Urban and Regional Analysis (CURA). The regional planners that were part of the discussion said that providing adequate housing as Ohio’s population and labor force continue to grow will require municipalities to work with developers to provide a range of options for residents at different income levels.
