TSMC Arizona and U.S. Department of Commerce Announce Up to $6.6 Billion in Proposed Chips Act Direct Funding
April 8, 2024
TSMC announced that the U.S. Department of Commerce and TSMC Arizona have signed preliminary terms for up to $6.6 billion in direct funding under the CHIPS and Science Act. TSMC also announced plans to build a third fab at TSMC Arizona, leveraging the most advanced semiconductor process technology in the United States.
As the company makes progress in completing its first fab, and in February 2024 celebrated a construction milestone with the last steel beam placed on its second fab, the third fab brings TSMC’s total investment to more than $65 billion, making the Phoenix site the largest foreign direct investment in Arizona history, and the largest foreign direct investments in a greenfield project in U.S. history. TSMC Arizona’s three fabs are expected to create 6,000 direct high-tech, high-wage jobs, building a workforce that will help to support a vibrant and competitive global semiconductor ecosystem that enables leading U.S. companies to gain access to domestically manufactured, cutting-edge semiconductor products alongside a world-class semiconductor foundry.