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TSMC Announces Third Advanced Semiconductor Fab in Arizona with Up to $6.6 Billion in CHIPS Act Funding
PHOENIX, Arizona, April 8, 2024 - Taiwan Semiconductor Manufacturing Company (TSMC), the world’s leading semiconductor manufacturer, has today announced a significant expansion of its operations in the United States. In collaboration with the U.S. Department of Commerce, TSMC Arizona has signed a non-binding preliminary memorandum of terms (PMT) that includes up to US$6.6 billion in direct funding under the CHIPS and Science Act. This move marks a major step forward in the semiconductor industry, with TSMC planning to construct a third fabrication plant (fab) in Phoenix, Arizona.
Historic Investment in U.S. Semiconductor Manufacturing
TSMC's decision to build a third fab underscores its commitment to meeting the burgeoning demand for advanced semiconductor process technology in the U.S. This new facility will increase TSMC’s total investment in Arizona to over US$65 billion, representing the largest foreign direct investment in the state's history and in a greenfield project within the United States.
Dr. Mark Liu, TSMC Chairman, highlighted the significance of the CHIPS and Science Act in enabling this unprecedented investment, stating, "Our U.S. operations will expand our capability to trailblaze future advancements in semiconductor technology."
A Boost to the U.S. Economy and Innovation
TSMC Arizona’s expansion is set to create approximately 6,000 high-tech, high-wage jobs directly, with an additional 20,000 jobs anticipated from construction and tens of thousands more from indirect supplier and consumer roles. This massive investment not only signifies a boost to the U.S. economy but also solidifies the country's position at the forefront of semiconductor innovation and production.
The first of TSMC Arizona’s fabs is expected to begin production in the first half of 2025 using 4nm technology. The second will introduce the world’s most advanced 2nm process technology with production slated for 2028, and the third will focus on 2nm or more advanced processes starting by the end of the decade.
Commitment to Sustainability
In line with TSMC's commitment to environmental stewardship, the Arizona fabs will be designed for green manufacturing. The company aims to achieve a 90% water recycling rate and is planning an industrial water reclamation plant to approach "near zero liquid discharge." This initiative reflects TSMC's global vision for eco-friendly operations.
Additional Financial Support and Tax Credits
Beyond the proposed $6.6 billion in direct funding, the PMT also includes provisions for up to $5 billion in loans. TSMC intends to apply for U.S. Treasury Department Investment Tax Credits, which could cover up to 25% of the qualified capital expenditure at TSMC Arizona.
Industry Support and Global Impact
The expansion has garnered support from leading technology companies, including AMD, Apple, and NVIDIA, whose executives have expressed enthusiasm for TSMC's continued investment in the U.S. This venture not only reinforces TSMC's partnership with these tech giants but also supports the broader goal of creating a more geographically diverse and resilient semiconductor supply chain.
TSMC's expansion in Arizona is a testament to the company's commitment to innovation, sustainability, and the global semiconductor ecosystem. With the support of the U.S. government and industry partners, TSMC is poised to enhance its leadership in advanced semiconductor manufacturing, paving the way for future technological breakthroughs.
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