Gina M. Raimondo Secretary of Commerce | Official Website
The Biden-Harris Administration has announced a significant investment in semiconductor manufacturing, awarding TSMC Arizona Corporation up to $6.6 billion under the CHIPS Incentives Program. This funding will support TSMC's planned $65 billion investment in three new fabrication facilities in Phoenix, Arizona. The funds will be disbursed as TSMC Arizona meets project milestones.
President Joe Biden emphasized the importance of this agreement, stating, "Two years ago, shortly after I signed the CHIPS & Science Act, I visited Arizona to announce a commitment by TSMC to invest in America, create American jobs, and shore up American supply chains." He added that this initiative is part of a broader effort to revitalize U.S. semiconductor manufacturing and reduce reliance on foreign production.
U.S. Secretary of Commerce Gina Raimondo highlighted the strategic significance of this investment: "The leading-edge chips that will be manufactured in Arizona are foundational to the United States' technological and economic leadership in the 21st century."
TSMC Chairman and CEO Dr. C.C. Wei expressed appreciation for the collaboration with various stakeholders since early 2020, noting that this agreement accelerates the development of advanced semiconductor technology in the U.S.
In addition to direct funding, the CHIPS Program Office plans to provide up to $5 billion in loans as part of its broader loan authority under the CHIPS and Science Act. This financial support aims to bolster domestic chip production capabilities essential for modern technologies like AI and high-performance computing.
This investment is expected to create approximately 6,000 direct manufacturing jobs and over 20,000 construction jobs. It marks a pivotal step in strengthening America's semiconductor ecosystem and securing its position as a leader in advanced technology sectors.
