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'Largest foreign direct investment in Arizona history': TSMC announces construction of second chipmaking plant

The announcement came on the same day President Biden was scheduled to visit the site of the first plant, scheduled to start production in 2024.

ARIZONA, USA — In the midst of construction for the first landmark semiconductor factory in Arizona, the company responsible announced it would be building a second and increasing its investment.

It would be offering "the largest foreign direct investment in Arizona history and one of the largest foreign direct investments in the history of the United States," according to its press release.

The company, named Taiwan Semiconductor Manufacturing Company (TSMC), creates computer chips that are used in everything from household appliances to F-35 fighter jets. The second plant is scheduled to begin production in 2026.

TSMC made the announcement early Tuesday morning, just hours before President Joe Biden is expected to visit the site of the first plant.

Biden is scheduled to arrive just after noon at Luke Air Force Base. Gov. Doug Ducey will be there to welcome the president. The two will then travel to TSMC near Interstate 17 and Carefree Highway for the event.

PREVIOUS COVERAGE: President Biden coming to Arizona Tuesday for semiconductor manufacturing plant visit

The company expects the two plants to create an additional 10,000 jobs.

“When complete, TSMC Arizona aims to be the greenest semiconductor manufacturing facility in the United States producing the most advanced semiconductor process technology in the country, enabling next-generation high-performance and low-power computing products for years to come,” said TSMC Chairman Dr. Mark Liu.

VERSIÓN EN ESPAÑOL: Antes de la visita de Biden a Arizona, TSMC anuncia construcción de segunda planta productora de microchips

This is a developing story. Tune in to 12News for coverage of the president's visit.

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