August 25, 2021

On Tuesday, an Arizona economic development group announced that it has made an agreement with the Taiwan USA Industrial Cooperation Office to find ways to bring more of Taiwan’s numerous semiconductor industries to the region and the United States.

The move comes as Taiwan Semiconductor Manufacturing Co (TSMC), the world’s largest chipmaker and semiconductor maker for Apple Inc. and many others, has announced plans to build a plant in Phoenix.

While details of the deal, including tax breaks and others, have yet to be released, Chris Camacho, chief executive of the Greater Phoenix Economic Council, which signed the agreement Tuesday, said about 40 companies are evaluating Arizona for potential investments and that the group will have as many TSMC suppliers and others in the region.

He stated: “We’re unapologetically pursuing becoming the top global destination for semiconductors and the semiconductor supply chain.”

For more information, read the original story in Reuters.