Arizona officials, business leaders trek to Taiwan

(The Center Square) – Arizona officials and business community leaders are visiting Taiwan on a trip as the state continues to develop its own semiconductor industry.

Although the city of Phoenix says around 20 Asian companies have chosen to call the city home, the region as a whole has been closely watching the development of the Taiwan Semiconductor Manufacturing Company’s plant in north Phoenix, as well as other companies that make chips, like Intel, pouring money into the Grand Canyon State.

"We have already seen the powerful impact foreign direct investment can have on a City. In the last two years, nearly 20 Asian companies have chosen Phoenix to plant their flag," Phoenix Community and Economic Development Director Christine Mackay said in a statement on Tuesday. "We are eager to showcase, once again, the numerous advantages to Taiwanese companies to explore Phoenix as their next partnership opportunity."

Taiwan continues to face high tensions with China, which has resulted in the United States beefing up its relationship with the small island nation and bringing more of its developments to the U.S. in case military action escalates further in the region.

As expected, the trip will focus on meeting with businesses in the country, including TSMC.

“Over the last decade, the work of Greater Phoenix leaders to travel to Taiwan, meet with leaders and executives, and create an advantageous operating ecosystem in Arizona has garnered momentum that has allowed for continued, productive conversations today and led to more than $65.4 billion in investment from 19 Taiwanese company expansions,” GPEC President & CEO Chris Camacho said in a statement.

“This paves the way for opportunity at the 2,300-acre Sonoran Oasis Science and Technology Park to create the largest new industrial corridor built adjacent to one of the most significant FDI projects in the country," he added.

The relationship has even become a priority for top state officials, as Gov. Katie Hobbs met with then-Taiwanese President Tsai Ing-wen and other economic leaders, and her visit included an update on TSMC in September.

“Arizona is entering a new era of economic growth, and our partnership with Taiwan is critical to creating good-paying jobs,” Hobbs said in a statement last year. “Companies are choosing to expand in our state because we offer not only the best place to grow a company and compete globally, but we’re the best place to live, work, and raise a family.”

Across the board, the state of Arizona has been trying to increase its semiconductor apprenticeship efforts in order to make sure in-state talent is getting the jobs that are hoping to be created by major investments. Nikkei Asia reported that TSMC and Intel have both faced challenges finding people needed to build and staff the facilities.