U.S. Department of Commerce Enters into Preliminary agreement with TSMC
In what could be seen as one of the more interesting developments within the consumer electronics industry, the United States government (via the Office of the President) recently announced that the US Department of Commerce has entered into a preliminary agreement with Taiwan Semiconductor Manufacturing Company (TSMC).
The deal will work as part of a long-term strategy to support construction of semiconductor manufacturing facilities in the United States. In addition, TSMC will also construct an additional facility in Phoenix, which will increase its total investment in Arizona to over $65 billion, including around 25,000 jobs. Part of the statement reads:
These facilities will manufacture the most advanced chips in the world, putting us on track to produce 20% of the world’s leading-edge semiconductors by 2030. The agreement also dedicates $50 million of CHIPS funding to training and developing the local workforce, so workers don’t have to leave their hometowns to find good-paying jobs in innovative industries.
With that in mind, it should be interesting to see where this new prospect leads in the coming years. Recently, TSMC temporarily halted production following an earthquake in Taiwan, although it’s reported that the company has since started to return to its operations.