U.S. Secretary of Commerce Wilbur Ross praised today’s announcement by Taiwan Semiconductor Manufacturing Company (TSMC) of plans to invest approximately $12 billion to construct a new 5-nanometer semiconductor production facility in Arizona. This manufacturing facility will be one of only two of its kind globally capable of producing the world’s most advanced semiconductors. TSMC’s planned investment will create an estimated 1,600 high-tech jobs, in addition to thousands of additional jobs in the broader semiconductor ecosystem.
“TSMC’s plan to build a $12 billion semiconductor facility in Arizona is yet another indication that President Trump’s policy agenda has led to a renaissance in American manufacturing and made the United States the most attractive place in the world to invest,” said Secretary Ross. “This plan is the result of years of close collaboration among TSMC, the Governor of Arizona and his staff, and the Administration, particularly our Assistant Secretary of Commerce Ian Steff.”
The semiconductor industry is critical to U.S. economic growth, underpinning many of the advanced technologies that consumers depend on including smart phones, transportation safety applications, advanced medical devices, and telecommunications. TSMC’s investment will reinforce American leadership in cutting-edge semiconductor design and manufacturing and will further accelerate Arizona’s rise as a global hub for the technology industry.
President Trump’s bold and unprecedented achievements on tax cuts, deregulation, workforce development, and high-tech innovation have laid the foundation for these types of capital-intensive investments in semiconductor design, R&D, and manufacturing. This Administration is committed to ensuring the United States has a secure, vibrant, and internationally competitive high-tech ecosystem, buttressed by domestic chip production.
“We are grateful to TSMC for working with our SelectUSA program, charged with coordinating federal efforts to attract and retain global investment,” said Ian Steff, Assistant Secretary of Commerce for Global Markets and Director General of the U.S. and Foreign Commercial Service. “This announcement is the product of strong cooperation between federal, state, and local governments, leveraging the unprecedented investment climate for manufacturers created by President Trump. Our global team of Commerce professionals stand ready to work with additional semiconductor companies looking to expand their operations and investments in the United States.”
The United States is home to more foreign direct investment (FDI) than any other country in the world, with a total of $4.34 trillion at the end of 2018. FDI supports directly and indirectly more than 7.35 million U.S. jobs and is responsible for $382.7 billion in U.S. goods exports.
The U.S. Department of Commerce-led SelectUSA program, housed at the International Trade Administration, promotes and facilitates business investment into the United States by serving as a single point of contact for investors. SelectUSA assists U.S. economic development organizations in competing globally for investment by providing information about and access to potential business investors, a platform for international marketing, and high-level advocacy. SelectUSA also helps business investors find the information they need to make decisions by connecting them to the right people at the local level, supporting the navigation of the Federal regulatory system, and finding solutions to issues related to the Federal government. For more information, visit www.selectusa.gov.