Arizona Emerges as a Powerhouse in the Semiconductor Industry
PHOENIX, AZ (May 23, 2023) – Arizona has rapidly ascended as a leader in the semiconductor sector, with investments surpassing $60 billion since 2020. The state is not only attracting significant financial commitments but is also pioneering workforce innovations to support the growing demand for talent, setting a benchmark for U.S. semiconductor competitiveness.
The Arizona Commerce Authority (ACA) has been named as one of the four recipients of the inaugural “Economic Development Award” by Business Facilities. This award highlights the state’s achievements in drawing in substantial projects and fostering economic growth. Learn more about the award here.
“We’re honored to see Arizona recognized for our tremendous semiconductor industry growth,” expressed Sandra Watson, President and CEO of the Arizona Commerce Authority. She acknowledged the collaborative effort involving industry leaders, educational institutions, and various governmental levels.
Currently, Arizona is home to four semiconductor fabrication plants. In 2021, Intel began constructing two additional plants, representing a $20 billion investment, which is expected to create 3,000 jobs. Moreover, TSMC announced a $40 billion investment to build two fabs in north Phoenix, generating around 4,500 job opportunities. More about these developments can be found here and here.
Since 2021, Arizona has secured more than two dozen semiconductor expansions and leads in attracting supplier projects. Recognizing Arizona’s favorable environment, SEMICON West, the largest semiconductor conference in North America, will begin holding its annual event in Phoenix on a rotating basis starting in 2025, marking a notable departure from its long-standing location in San Francisco. Details about this event are available here.
In a move to bolster its semiconductor ecosystem, Arizona announced a $100 million funding package in November 2022. This initiative aims to enhance infrastructure, workforce capabilities, and research, focusing on the rapid development and commercialization of next-generation semiconductor technologies. More information can be found here.
Additionally, in December, the ACA and its partners released the National Semiconductor Economic Roadmap (NSER), a strategic 10-year plan aimed at enhancing U.S. competitiveness in the semiconductor market. This plan was developed with input from over 50 stakeholders across eight states.
Media Contact
Alyssa Tufts, Arizona Commerce Authority, [email protected]
About the Arizona Commerce Authority
The Arizona Commerce Authority (ACA) is the state’s primary economic development organization. It focuses on growing Arizona’s economy through a strategy of attraction, expansion, and creation. This involves attracting out-of-state businesses, supporting the expansion of existing companies, and aiding entrepreneurs in launching new ventures within targeted sectors. For more details, visit azcommerce.com and follow the ACA on Twitter @azcommerce.
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