Arizona Secures Prestigious Economic Development Recognition
PHOENIX, AZ (June 7, 2023) – Arizona’s economic prowess has once again been acknowledged with a prestigious award, as it receives a “Gold Shovel” from Area Development Magazine. This marks the state’s third consecutive win in the 6-10 million population category, highlighting significant projects that began or expanded in 2022. The Shovel Awards celebrate states that have excelled in attracting large-scale job creation and investment through innovative policies and infrastructure enhancements.
Among the standout projects, TSMC’s massive $40 billion investment in Phoenix has been named one of the “Manufacturing Projects of the Year.” This investment, announced in December, aims to establish two semiconductor fabs in north Phoenix, creating 4,500 jobs. This recognition is a testament to Arizona’s growing reputation as a hub for high-tech manufacturing and innovation.
Governor Katie Hobbs expressed pride in the state’s achievements, stating, From semiconductors to batteries, renewable energy, electric vehicles and more, Arizona has become an epicenter of innovation.
She emphasized the economic ripple effect of investments from industry leaders like TSMC.
TSMC Arizona Chairman Rick Cassidy reflected on the company’s commitment to U.S. manufacturing, saying, It was just over three years ago that we announced our plans to bring the most advanced semiconductor manufacturing technology to the United States.
He highlighted the importance of the Phoenix fabs in supporting a competitive semiconductor ecosystem.
Phoenix Mayor Kate Gallego also praised the city’s role in Arizona’s economic success, asserting, As a burgeoning hub for innovation in semiconductors, bioscience technology, and electric vehicle manufacturing, Arizona is more than deserving of a third straight Gold Shovel award.
Arizona continues to attract diverse industries, as demonstrated by notable 2022 projects:
- LG Energy Solution announced a $1.4 billion investment for a battery manufacturing facility in Queen Creek, creating thousands of jobs.
- XNRGY began constructing a $300 million manufacturing facility in Mesa, providing over 900 jobs.
- Nestlé plans to invest $675 million in a new beverage manufacturing facility in Glendale, creating over 350 jobs.
- Williams-Sonoma leased a large facility in Glendale, aiming to create over 2,400 jobs by 2027.
- Nucor is expanding its steel production in Kingman with a $100 million investment, adding 140 jobs.
- Virgin Galactic announced plans for a spaceship manufacturing facility in Mesa, creating several hundred skilled jobs.
- Corning is constructing a $100 million optical cable facility in Gilbert, creating 250 jobs.
- JX Nippon Mining and Metals broke ground on a new facility in Mesa, aiming to create over 100 jobs by 2025.
- Chang Chun Arizona is building a $300 million semiconductor chemical facility in Casa Grande, creating over 200 jobs.
- Procter & Gamble announced a $500 million investment in Coolidge for a new manufacturing facility, creating 500 jobs.
- FrameTec is constructing a $40 million facility in Camp Verde, creating over 180 jobs.
- American Battery Factory plans to invest $1.2 billion in a Tucson facility, creating 1,000 jobs.
For more details on the 2023 Shovel Award winners, visit Area Development’s website.
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