A lot is happening in the cutting tool industry in the month of March. Continue reading our news roundup to learn more about what’s happening in the industry this month.

Intel Gets $8.5 Billion for Chip Plants

The Biden administration has agreed to provide as much as $8.5 billion in grants to Intel Corp. to build new and beef up existing semiconductor manufacturing and r&d at sites in Arizona, New Mexico, Ohio and Oregon. The money is being given as part of the CHIPS and Science Act, a 2022 law that aims to boost semiconductor manufacturing in the U.S., especially for leading-edge chips used for applications such as artificial intelligence or in sensitive military equipment.

Intel can also draw up to $11 billion in federal loans, and federal tax credits could cover a quarter of the expense of its U.S. expansion projects, the company says in a press release. Intel says it plans to invest more than $100 billion over the next five years in the expansion effort. The company’s planned investments in the U.S. are expected to create more than 10,000 new permanent manufacturing jobs at the company as well as almost 20,000 construction jobs. That’s in addition to supporting more than 50,000 jobs with suppliers and supporting industries.

To find out how the latest funding will be used in each state click here.

HP Unveiling New Additive Material at AMUG

HP Inc. is unveiling a new PA 12 S nylon-based material at the Additive Manufacturing Users Group (AMUG) Conference in Chicago.

Developed with Arkema Group, which specializes in material science and design, the new material is already being used by companies such as Accel Digital Solutions, Decathlon, Erpro Group, and Materialize for aesthetic parts. The new material is aimed at streamlining production processes and ultimately reducing costs for customers who use the company’s Jet Fusion 5200 Series 3D printing solutions. It will be available for the Jet Fusion 5600 Series this spring.

Click here for all the details!

Study Shows Manufacturing Jobs Shortage in 48 States

The current talent gap in manufacturing is a well-known obstacle in shops large and small throughout the U.S. A recent study highlights this gap on a state-by-state basis.

The study from ECI Software Solutions found that 48 out of 50 states had a shortage of demand for manufacturing jobs. To reach these and other conclusions, ECI used data from LinkedIn to get the number of jobs available for manufacturing-related roles in each state. It then compared this with data from Google Keyword Planner to see how many people in each state were searching for these jobs. 

The full study can be seen here.

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