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TSMC gets $6.6B US subsidy for a third Arizona factory.

TraderKnows
TraderKnows
04-09

Recently, the global semiconductor giant TSMC announced a significant collaboration with the U.S. Department of Commerce, securing a subsidy of $6.6 billion to establish its third factory in Phoenix, Arizona.

Last week, TSMC's headquarters in Taiwan was forced to temporarily halt operations due to an earthquake. However, this cloud of gloom was quickly dispelled when TSMC announced in a recent statement that it had reached an important agreement with the U.S. Department of Commerce. Under the "CHIPS and Science Act," TSMC's subsidiary, TSMC Arizona, will receive up to $6.6 billion in subsidies.

This collaboration will further accelerate TSMC's expansion and development in the United States. TSMC plans to establish a new factory in Arizona, which will be the state's third such facility. This project is expected to create over 6,000 high-tech jobs and more than 20,000 construction jobs, along with countless other indirect positions and benefits.

However, the three factories are currently in the planning stage and have not yet begun operations. The first factory is scheduled to break ground in 2025, with subsequent factories starting construction every 2-3 years. These new factories will provide immense value and vitality to the U.S. semiconductor industry.

TSMC's investment in Arizona has already exceeded $65 billion, making it the state's largest foreign investment. TSMC is very positive about this, expressing gratitude for the "CHIPS and Science Act." They claim that it is because of this act that they are able to make such large-scale investments in the United States, allowing semiconductor technology to develop and better serve U.S. customers.

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