OHIO — As development on the Intel site in Licking County continues, the Public Utilities Commission of Ohio authorized a rate agreement between AEP Ohio and Intel itself.

The rate agreement will support the semiconductor manufacturing operations through a 20-year term.

Through the agreement AEP Ohio will invest an estimated $95.1 million into constructing a new electric substation facility with up to 50 megawatts of electric load to serve Intel. Intel is required to show ongoing commitment to the agreement by investing $20 billion over the 20 years.

“Adequate and reliable electric service is a crucial component to Ohio’s manufacturing sector, as demonstrated by Intel’s historic investment in Ohio,” stated PUCO Chair Jenifer French in a news release.

PUCO said the facility will result in 3,000 direct Intel jobs, 7,000 construction jobs and more than 10,000 additional indirect and support jobs. 

JobsOhio conducted an economic impact study which showed Intel's facility would support $2.57 billion of economic activity, $688 million of gross state product and $446 million in annual labor income. It is estimated, by JobsOhio, that the facility would support $6.45 billion of economic activity, $2.79 billion of gross state product annually and $1.9 billion of labor income.

To view the agreement, click here.