NEW ALBANY, Ohio (WCMH) – New Albany officials took the next step Tuesday toward bringing a tech giant to central Ohio.

New Albany City Council approved spending millions of dollars to improve its business campus, just days after word leaked of plans for a massive computer chip factory would be coming to Licking County.

For the first time, Mayor Sloan Spalding spoke out on what’s next.

“Certainly a project of this size, no matter who the end-user is, is going to have a big impact on our region,” Spalding said during a council meeting Tuesday.

Council approved $10 million in economic development funds at the meeting.

While details surrounding the project were vague from council, most of the funds will be used to build water and sewer lines and repair roads, all near the planned site for a proposed massive computer chip factory.

“We look forward to working with our partners to be able to build our business community and increase the jobs for all Ohioans,” Spalding said.

A Jersey Township trustee told NBC4 the development will be a 10-year project, with more financial backing from the federal government likely to follow, and although he could not confirm which company was building the plant, our partners at Columbus Business First linked the project to Intel.

Earlier this month, New Albany City Council approved the annexation of nearly 3,200 acres of land near the city’s International Business Park.

Spalding would not confirm any of those details but did say the city is committed to the project.

“There’s been a lot of interest and speculation about what the final user will be,” he said. “We’re having a lot of conversations with interested parties and it’s just too premature to confirm anything.”