Taiwan's TSMC to build chip plant in US

Taiwan's TSMC to build chip plant in US

The company says that facility construction is planned to start in 2021.

The $12 billion factory will employ 1,600 high-tech workers and produce a 5-nanometer chip, smaller and more powerful than the 7-nanometer chips now considered state of the art. It expects chip production will begin in the finished plant in 2024, but its $12 billion expenditure is to be spread over 2021 through 2029.

A logo of Taiwan Semiconductor Manufacturing Co (TSMC) is seen at its headquarters in Hsinchu, Taiwan, on October 5, 2017.

The foundry will focus on manufacturing 5-nanometer chips and will have the capacity to produce 20,000 wafers a month, according to the press release.

In today's announcement, TSMC said "U.S. adoption of forward-looking investment policies to enable a globally competitive environment for a leading edge semiconductor technology operation in the US will be crucial to the success of this project".

President Donald Trump departs on travel to the Camp David presidential retreat from the South Lawn at the White House in Washington, on May 1, 2020.

"And one little piece of the world goes bad and the whole thing is messed up", Trump said, adding, "We should have them all in the United States". The Arizona Commerce Authority will continue working with TSMC, the US administration, the City of Phoenix and the Greater Phoenix Economic Council to finalize all aspects of the project.

US Secretary of State Mike Pompeo confirmed that TSMC chips will power everything - from 5G base stations to F-35 fighter jets. With global operations spanning Asia, Europe, and North America, TSMC serves as a committed corporate citizen around the world.

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