Taiwan Chipmaker TSMC Triples Investment In Arizona Plants To $40Bln

WASHINGTON (UrduPoint News / Sputnik - 07th December, 2022) Taiwanese semiconductor manufacturing firm TSMC said in a press release it tripled its investment in chip production in the state of Arizona to $40 billion.

TSMC initially announced in November that it would invest $12 billion to build a plant in Phoenix, Arizona, that will manufacture advanced semiconductor chips, creating 1,600 new high-end jobs.

"TSMC today announced that in addition to TSMC Arizona's first fab, which is scheduled to begin production of N4 process technology in 2024, TSMC has also started the construction of a second fab which is scheduled to begin production of 3nm process technology in 2026," the company said on Tuesday. "The overall investment for these two fabs will be approximately US$40 billion.

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Arizona's two manufacturing facilities, according to the release, are expected to create an additional 10,000 high-end jobs, including 4,500 direct TSMC jobs.

The two semiconductor fabs will manufacture over 600,000 wafers per year, with estimated end-product value of more than $40 billion.

Earlier this year, US President Joe Biden signed legislation which included $52 billion in subsidies for domestic semiconductor manufacturers that the White House said would create at least 40,000 jobs in the United States.

Biden earlier on Tuesday toured the TSMC facility in Arizona and held a presser alongside several local lawmakers and the city's mayor.