Chipmaker Intel will spend at least $20 billion on a new chip manufacturing facility in New Albany near Columbus, Ohio, Time reports. The plans are expected to be officially announced Friday afternoon

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by Ohio officials, according to data. of Cleveland.com and the New York Times noted that Intel will discuss expansion in a webcast today. The 1,000-acre facility will be two chip factories. And it is set to directly employ at least 3,000 people.

Construction is reportedly set to begin this year. The site will open for service in 2025.In an interview with Time, Intel CEO Pat Gelsinger said the company expects the site to become a It was called

the "world's largest silicon production facility," and added that it could eventually expand to 2,000 acres with eight plants. After helping to build Silicon Valley, Gelsinger said the new site would become "Silicon Heartland."