Housing crisis looms over Columbus’ self-proclaimed reputation as the “Silicon Heartland”

Phoebe Helms
Thu, 08 Feb 2024 02:58:30 +0000
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Whether or not future renters or homebuyers are aware, central Ohio’s tech boom may prove to be a double-edged sword, exacerbating the region’s growing housing crisis.?

In January 2022, Intel —?the largest semiconductor manufacturer in the world — announced plans to invest over $20 billion into constructing two chip factories in Licking County, Ohio. Currently, Intel’s primary locations are in Arizona, California, New Mexico and Oregon.?

Economic prosperity in regions where Intel is located has grown tenfold, and its contribution to the U.S.’s GDP was $25.9 billion in 2019 alone. Intel’s announcement marked the single largest private sector investment in the history of Ohio, and the project is expected to add approximately $2.8 billion to Ohio’s economic growth, according to the company.?