According to the White House, the company’s $65 billion total investment is the biggest foreign direct investment in Arizona’s history. It is anticipated that the three fabs will generate over 20,000 indirect jobs, such as those in construction, and over 6,000 high-paying tech jobs.
Keeping supply chains safe
In order to prevent possible supply interruptions, the US government has underlined the necessity of moving more chip production onshore. The coronavirus pandemic resulted in significant global bottlenecks in chip delivery and increased consumer goods prices, providing a striking illustration of that risk.
Taiwan’s position is likewise precarious. Supply chain specialists and US officials fear that the crucial chip manufacturing sector could be negatively impacted by trade tensions between the US and China as well as Beijing’s possible military assault on the island. The industry’s vulnerability to such natural calamities was further brought to light by a strong earthquake that struck Taiwan last week.
President Biden was “tired of being at the end of the supply chain,” US Commerce Secretary Gina Raimondo said in a call with reporters prior to Monday’s announcement, adding that the additional government funding went “a long way toward further strengthening our domestic supply chain resilience.”
“Here in the United States of America, we will be producing the most advanced semiconductor chips on the planet at scale for the first time ever,” she continued.
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