Intel's $20B fab + your Central Ohio home

Intel's announced commitment is $20B for the initial two-fab campus in New Albany (Licking County). The total long-term commitment over 20 years could reach $100B if they build all eight planned fabs. Construction is Ohio's largest active project — over 7,000 workers on-site at peak, plus 3,000 permanent fab jobs once operational.

The Ohio One campus is in New Albany, near Smith's Mill Rd and Mink St (Licking County). Direct housing-price impact zone is roughly: New Albany, Pataskala, Reynoldsburg, Gahanna, Westerville, Granville, Pickerington, Newark, and Heath. Indirect impact (commute zone) extends to Hilliard, Dublin, and Polaris.

New Albany median home prices jumped 32% from 2022 announcement to 2025 (vs Ohio average +14%). Pataskala +28%, Granville +22%, Newark +18%. As of early 2026, prices have stabilized but inventory is tight (avg days on market: 11 in Licking County vs 35 statewide). Expect continued upward pressure as Phase 1 fabs come online late 2026/early 2027.

Three forces compound: (1) Intel construction draws hundreds of skilled trades to high-pay site work, leaving residential less staffed; (2) new-home construction is up 40%+ in Licking County, creating warranty + finish-out backlog; (3) existing-home renovation demand spikes from buyers needing pre-move-in fixes. Result: top-tier residential plumbers, electricians, HVAC techs in Pataskala/New Albany are 3-6 weeks out year-round.

Standard inspection costs are unchanged ($400-$700) but turn-around is 1-2 weeks vs typical 3-day. Budget +20% on any pre-close repair credits since contractor pricing is up. Sewer-line scope ($350-$500) and radon test ($150-$300) are non-negotiable in older Newark/Heath/Pataskala homes. Consider Class 4 impact-resistant shingles for any roof replacement — Central Ohio sees more violent thunderstorms than 10 years ago.

Licking Heights Local Schools (covers most of the New Albany impact zone) absorbed 15%+ enrollment growth from 2022-2025 — one of the fastest in Ohio. Capital improvement levies passed Nov 2024 + May 2025. Pataskala (Licking Heights) home prices include a school-quality premium of approximately $30K-$60K. Granville Schools (separate district) hold an even higher quality + price premium.

Heuristic: if you'll be in central Ohio 3+ years and have 20% down for the impact zone, buying still makes sense at 6-7% mortgage rates because price appreciation has been 18-32% locally. Sub-3-year horizon, rent — you'll likely break even at best after closing costs and 6% sell-side commission.

Yes — homes within 1.5 miles of the construction zone (Smith's Mill Rd, parts of Beech Rd, certain lots in Mink St area) report consistent dust, vibration during pile-driving phases, and 24/7 site lighting. HVAC filter-change frequency triples (recommend MERV-13 monthly during construction). Some homes have settled cracks in drywall (cosmetic, but document with photos for any future warranty/insurance claim).

Already happening. Tier-1 semiconductor suppliers (Air Products, AMAT, Lam Research, ASML support) are taking warehouse + light-mfg space along I-70/I-71 corridors all the way to Springfield (Clark County), Marysville (Union), and Heath (Licking). Worthington, Hilliard, and Powell are seeing executive-relocation home buyers. Lima area sees some component-supply spillover.