Taiwan Semiconductor Manufacturing upped Arizona Chip Investment to $40 Billion as Biden Visits.

  • The investment by TSMC is one of the largest foreign investments in U.S. history, and the largest in the state of Arizona.
  • Semiconductor chips are used in everything from computers and smartphones to cars, microwaves and health-care devices. Once the plants open, they will produce enough chips to meet the U.S. annual demand.
  • The announcement comes in wake of the passage of the CHIPS and Science Act which was signed into law in early August.

The company announced construction of another factory during a visit by President Biden on Tuesday, where the president cited the massive complex as a sign that “American manufacturing is back, folks.”

Taiwan Semiconductor Manufacturing originally said it would invest $12 billion in the complex on a campus that spans nearly two miles by one mile, but the company marked the occasion by announcing it would more than triple its investment to $40 billion.

That would mark the state’s largest private-sector investment ever and one of the largest direct foreign investments anywhere in the United States.

“Arizona is a hub, literally a hub for the technical change that will take place,” Biden said shortly after arriving via Air Force One at Luke Air Force Base. “This will be an incredible asset to the state of Arizona.”

Read more on Yahoo.com

Juan Pesqueira, Realtor

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