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PORTLAND, Ore. (Portland Tribune) — Multiple news reports say Intel has scrapped plans to develop a $700 million “mega lab” at its Jones Farm campus in Hillsboro, part of ongoing downsizing at the international chipmaking company.

The lab was supposed to be a research facility to develop data center cooling methods, and a 2022 announcement said construction was scheduled to begin this year. But The Oregonian/OregonLive reported last week that the company announced a new direction.

Now, Intel says it is going to be continuing the research at its existing facilities and looking for cheaper options for new real estate.

The news comes after a tough financial year for Intel, which saw profits slump during an overall downturn in the global semiconductor industry.

The resulting hit to Intel stocks came the same year the U.S. Congress passed a multi-billion spending bill aimed at bolstering domestic microchip production.

While no layoffs have yet been reported by the company in Oregon, Intel’s chief executive officer, Pat Gelsinger, last year said that the company must cut billions in expenses, and that layoffs would be a component.

Employees have described a sense of wariness with not knowing whether their jobs are stable.

Intel is Oregon’s largest corporate employer, with 22,000 employees in Washington County alone. It has campuses in Hillsboro and Aloha.