Biden administration invests in semiconductor manufacturing in AZ [Video]

PHOENIX — Editor’s note: The video at the top of this page is from a newscast on March 20, 2024. 

A major semiconductor manufacturing company that is already building two plants in the north Valley is receiving a major investment from the Biden administration that will allow the company to build a third plant, the administration announced Monday morning. 

The Taiwan Semiconductor Manufacturing Company, the Biden administration and the U.S. Department of Commerce agreed to an investment that will “support the construction of leading-edge semiconductor manufacturing facilities right here in the United States,” according to a statement from the president.   

The exact amount of the investment was not announced, but Bloomberg reported in March that TSMC was expected to receive more than $5 billion in federal grants. 

The investment will allow TSMC to …