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The US Commerce Department announced a $6.6 billion subsidy for Taiwan Semiconductor Manufacturing Co’s (TSMC) US unit in Phoenix, Arizona, along with up to $5 billion in low-cost government loans, Reuters reported on Monday.
TSMC will expand its investment to $65 billion and add a third fab by 2030, producing advanced two nanometer technology.
This investment is the largest foreign direct investment in a new US project. TSMC aims to support US tech firms and create jobs through its Arizona fabs.
The company also plans to achieve a 90 per cent water recycling rate in its Arizona factories.
The US Commerce Department also announced grants and loans for Intel and is expected to award Samsung Electronics soon.
