TSMC awarded $6.6B from Department of Commerce for Arizona plants

The U.S. Department of Commerce and TSMC Arizona Corporation, a subsidiary of Taiwan Semiconductor Manufacturing Company, signed a non-binding preliminary memorandum of terms to provide up to $6.6B in direct funding under the CHIPS and Science Act. The proposed funding would support TSMC’s investment of more than $65B in three greenfield leading-edge fabs in Phoenix, Arizona. “After initially announcing two fabs in the U.S., TSMC Arizona is committing to build an additional third fab before the end of the decade. With this proposed funding, TSMC Arizona would be ensuring the formation of a scaled leading-edge cluster in Arizona, creating approximately 6,000 direct manufacturing jobs, more than 20,000 accumulated unique construction jobs, and tens of thousands of indirect jobs in this decade and bringing the most advanced process technology to the United States,” Department of Commerce said in a statement.