COLUMBUS, Ohio — Intel’s development in central Ohio is a sight you can’t miss.
But stock prices for Intel over the last year have started to make some people worry about the company's investment in central Ohio. Today, the stock is at 18.97. In January, the stock was around 47.80. So, what does that mean for the future of Intel, if anything, in our area?
“If you drive by the site every single day, you are seeing more and more money poured into the ground. So every day that goes by, the odds that there will not be chips made there goes away, seems to go away,” said Governor Mike DeWine.
DeWine told reporters on Thursday he is not worried about Intel’s future here.
“It would be a real mistake to start speculating about something I don’t think is going to happen. Intel is here, they are going to stay here, build here, they are going to employ people here,” said DeWine.
Ned Hill, a professor of economic development at Ohio State, said the zero job postings on Intel’s website for central Ohio mean nothing to him.
“At this moment Intel is not hiring for that facility. That facility won't open for two to two and a half years. No one is going to hire someone and say, ‘Go sit in the corner for 2.5 years then come out and be a roaring employee,’” said Hill.
Hill said the downward spiral of the stock is what stocks do.
“With a project that is this long, this complicated, this big, it’s a multi-year project. The stock market goes up and down like crazy,” he said.
Hill said he doesn’t think Intel will start hiring plant jobs until about a year out.
“When they staff the plant, they will be taking engineers, experienced Intel employees from around the globe and bringing them to Ohio. Then, they will start recuring a year before the plant is in operation. They are already working with community colleges, regional colleges, Ohio State's regional campuses to build that employment pipeline,” said Hill.
He said although no investment is certain, he’s not worried about Intel in central Ohio.
“If Intel were to somehow, for an unbelievable reason bankrupt, hit the wall, stop, we could have a very expensive swimming pool out there. I think it’s a low-probability event,” said Hill.
10TV reached out to Intel for a comment but has not heard back.