TSMC snags $6.6 billion in CHIPS Act funding to open three factories in Arizona – By Lawrence Bonk (Engadget) / April 8, 2024
The goal is for the company to manufacture “advanced chips that are made entirely on US soil.”
President Biden’s CHIPS Act money continues to get doled out to semiconductor manufacturers. The White House just announced that the Taiwan Semiconductor Manufacturing Company (TSMC) is receiving $6.6 billion in grants to build three fabrication plants, otherwise called fabs, in the region of Phoenix, Arizona. This is in addition to around $5 billion in government loans.
As part of this deal, TSMC agreed to expand its planned investment in Arizona by $25 billion, to $65 billion. The company already announced two of the three factories it is building in the state, with a third promised by 2030. The White House says this represents the largest foreign direct investment in Arizona’s history, with expectations to bring 6,000 high-wage tech jobs and 20,000 construction jobs to the state.
