TODAY: President Biden to visit Phoenix to highlight Arizona's high-tech manufacturing industry abc15
On Tuesday, with President Joe Biden in attendance, TSMC will announce phase two, increasing the company's investment in Arizona to $40 billion.
TSMC will announce a plan to build a second facility that will produce advanced 3-nanometer chips by 2026. The Greater Phoenix Economic Council said the plant is expected to create nearly 43,000 jobs over 10 years. Today, the Phoenix area unemployment rate is down to 3.2%, while the overall Arizona economy grew by 6.3% in 2021 — the most in 16 years.
Secretary of Commerce Gina Raimondo, U.S. Senator Mark Kelly, and U.S. Representatives Ruben Gallego, Raul Grijalva and Tom O’Halleran, and Greg Stanton will attend the event. In addition, Governor Doug Ducey, Governor-elect Katie Hobbs, Phoenix Mayor Kate Gallego, and former U.S. Congresswoman Gabby Giffords will also attend.The TSMC plant under construction is enormous by any measure: 5.6 million square feet.
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