Mike Pompeo touts Taiwan chipmaker’s $12B factory deal in US

Chipmaker Taiwan Semiconductor Manufacturing Co.’s $12 billion investment in the US will increase American economic independence from China, Secretary of State Mike Pompeo said Friday.

“TSMC’s announcement comes at a critical juncture, when China is competing to dominate cutting-edge technology and control critical industries. The TSMC facility in Arizona will increase US economic independence,” Pompeo said on Friday, a day after scolding the country for allegedly hacking US COVID-19 research data.

TSMC, a major supplier to Apple, announced on Friday it would build a $12 billion chip factory in Arizona, in what the company called a “strong partnership” with the US government.

Pompeo also said the investment will strengthen US-Taiwan ties.

TSMC said the facility will create over 1,600 “high-tech professional jobs,” with construction due to start in 2021 and production slated to begin in 2024, The Verge reported.

The chipmaker said its total spending on the plant would be roughly $12 billion from 2021 to 2029.

The company already operates a factory in Camas, Washington, and design centers in Texas and California.

With Reuters

Source: Read Full Article