TSMC’s two Arizona factories are expected to create approximately 10,000 high-paying high-tech jobs, including 4,500 direct jobs for TSMC.
Semiconductors are used in many electronic devices, from computers and smartphones to automobiles, microwave ovens and medical devices. During the covid-19 pandemic, it has become clear that the United States and other countries depend on Chinese products in this area.
In early August, US President Joe Biden signed into law the Chip and Research Act, which has allocated billions of dollars to attract chip makers to the United States. The law also includes $52.7 billion in grants and other incentives for the semiconductor industry. It also provides a 25% tax break for companies investing in chip manufacturing facilities in the United States.
The law to support the production of microchips in the United States also provides for an increase in spending on various research programs. These would amount to about $200 billion over ten years, the Congressional Budget Office (CBO) said after the bill was passed.
Buffett invests in potato chips. Berkshire bought a stake in Taiwan’s TSMC
Economic
