NEW ALBANY, Ohio (WCMH) — In New Albany, construction has continued on Intel’s $20 billion semiconductor fabrication plant — with concrete first poured last month.

But in Santa Clara, California, Intel reported quarterly earnings in April that were about 36% lower than the same time period a year prior, according to its SEC filings. Chief Executive Officer Pat Gelsinger called the $11.7 billion in revenue “solid.” It exceeded Wall Street analysts’ estimates, according to Chief Financial Officer David Zinsner.

The Wall Street Journal reported in February that mid-level workers through executives — including Gelsinger — would take pay cuts after a poor quarter in late January.

The New Albany mega-project has been routinely touted by state and local officials as the largest private-sector investment in Ohio’s history, and the state offered Intel an alluring close to $2 billion incentives package for the tech behemoth to build its plants in New Albany.

The pricey initial project announcement promised at least 10,000 direct jobs and thousands more indirectly, tens of millions of dollars in educational partnership investments, and — at its core — a plant on 1,000 acres one county east of Columbus that will eventually manufacture the minuscule silicon wafers powering computers and cars and military weaponry.

A year and a half later, as it continues to navigate economic struggles, Ohio Lt. Governor Jon Husted said in an interview with NBC4 that Intel’s progress on the project rests partially in the hands of the federal government.

“We have to wait for CHIPS Act funding to come through so that they have the capital to invest and grow, but they’re continuing to build out the facilities in New Albany,” Husted said Thursday.

Husted also told NBC4 he believes Americans need to “embrace” the idea that domestic chipmaking will benefit both the country’s economy and national security. Intel is a leader in the field, Husted said. “They need to be successful,” he said.

Intel’s next quarterly earnings are scheduled to be reported in late July.