US President Joe Biden gives a speech at Intel Ocotillo Campus on March 20, 2024 in Chandler, Arizona. Biden announced $8.5 billion in federal funding from the CHIPS Act for Intel Corp. to manufacture semiconductors in Arizona. "The CHIPS and Science Act is a huge jobs creator," National Economic Council Director Lael Brainard told NBC News, adding that the impact would go beyond Intel's own workforce. "The CHIPS and Science Act is a huge jobs creator," National Economic Council Director Lael Brainard told NBC News, adding that the impact would go beyond Intel's own workforce. "That also leads to all kinds of nearby restaurants' having business, nearby service small businesses' starting up and hiring workers of their own."

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Persons: Joe Biden, Biden, CHANDLER, Ariz, Alfred Garza, Garza, It's, Chandler, Lael Brainard, Pat Gelsinger Organizations: Intel Ocotillo, Intel Corp, China, Intel, Chandler, Economic, NBC News Locations: Chandler , Arizona, Arizona, —, Phoenix, Washington, Chandler, Ohio, New Mexico, Oregon, America, Asia, U.S