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Watch live as Joe Biden delivers remarks at a campaign event in Arizona on Wednesday 20 March.
The president is expected to speak on his Investing in America agenda after touring the Intel Ocotillo Campus in Phoenix.
In a press release ahead of his speech, the White House said the agenda “is mobilising historic levels of private sector investments in the United States, bringing manufacturing back to America after decades of offshoring, and creating new, good-paying jobs.”
The Biden administration also said Wednesday it is awarding Intel nearly $20 billion in grants and loans, supercharging the company’s domestic semiconductor chip output and marking the government’s largest outlay to subsidise leading-edge chip production.
Mr Biden will announce the preliminary agreement for $8.5 billion in grants and up to $11 billion in loans in Arizona, with some of the funding to be used to build two new factories and modernise an existing one.