The Biden administration announced Monday that it has signed a multimillion-dollar agreement with a Taiwan-based semiconductor manufacturer to help build facilities in the United States, including in Arizona.
The government announced that it has reached a preliminary agreement with Hsinchu-based Taiwan Semiconductor Manufacturing Company for funding through CHIPS and the Science Act.
Biden said in a statement that the investment will “support the construction of a state-of-the-art semiconductor manufacturing facility here in the United States” and will allow the company to build a third chip factory in Phoenix. Ta.
Biden said the deal includes $50 million through CHIPS and the Science Act to train and develop the local workforce.
“A year and a half ago, I toured the site of TSMC’s first new factory in Phoenix, Arizona,” Biden said. “TSMC’s renewed commitment to the U.S. and investment in Arizona will expand the reach of semiconductor manufacturing, which is made in the U.S. and has strong support from America’s leading technology companies to build the products we rely on every day. It represents a story.”
The agreement with the Taiwanese company is the latest investment in the CHIPS Act of 2022, which passed Congress with bipartisan support.
Biden has repeatedly emphasized the importance of chips and scientific law, citing the widespread use of microchips in everyday technology such as phones, cars and home appliances. Officials said the law is critical to ramping up domestic chip production to reduce America’s dependence on overseas supply chains.
The White House announced four other preliminary agreements with companies for CHIPS funding, including Intel, GlobalFoundries, and Bae Systems.
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