Arizona Commerce Authority Wins Inaugural “Economic Development Award”
Award Recognizes Arizona’s Leading Semiconductor Industry Growth
PHOENIX, AZ (May 23, 2023) – With more than $60 billion announced since 2020, Arizona leads the nation in investment from the semiconductor industry, with further growth on the horizon. The state also has pioneered innovative workforce solutions to meet growing talent demands and facilitated a nationwide effort to increase U.S. semiconductor competitiveness.
In recognition of these efforts and more, Business Facilities announced the Arizona Commerce Authority as one of four winners of the inaugural “Economic Development Award” for the state category. The award recognizes community efforts at attracting “record-breaking projects and creating new pockets of economic growth.”
“We’re honored to see Arizona recognized for our tremendous semiconductor industry growth,” said Sandra Watson, President and CEO of the Arizona Commerce Authority. “We’re thankful to our many partners in this effort across the state, from industry, universities and community colleges, utilities, state, local, and federal leaders and more. This has truly been a team effort.”
With four semiconductor factories (fabs) operating in Arizona already, Intel in 2021 broke ground on two additional fabs, representing a $20 billion investment, creating 3,000 jobs. In December, TSMC announced a total investment of $40 billion to build two fabs in north Phoenix, creating 4,500 jobs.
Since 2021, Arizona has attracted more than two dozen semiconductor expansions and won more supplier projects than anywhere in the country, according to the Semiconductor Industry Association. In recognition of Arizona’s leading semiconductor environment, SEMICON West, North America’s largest semiconductor conference, announced it would begin hosting its annual event in Phoenix starting on a rotating basis in 2025. The move represents the first time SEMICON West will be held outside of San Francisco in 50 years.
In November 2022, Arizona announced $100 million in funding to enhance its semiconductor infrastructure, workforce, and research capabilities, with a focus on the accelerated development, commercialization, and manufacturing of next-generation U.S. semiconductor-based technologies.
In December, the ACA and partners published the National Semiconductor Economic Roadmap (NSER), a 10-year industry-led plan for increasing U.S. competitiveness in the semiconductor industry. The effort, facilitated by the ACA, included participation from over 50 stakeholders across the country and eight states.
Read more about Business Facilities EDO Awards HERE.
Alyssa Tufts, Arizona Commerce Authority, [email protected]
About the Arizona Commerce Authority
The Arizona Commerce Authority (ACA) is the state's leading economic development organization with a streamlined mission to grow and strengthen Arizona's economy. The ACA uses a three-pronged approach to advance the overall economy: attract, expand, create - attract out-of-state companies to establish operations in Arizona; work with existing companies to expand their business in Arizona and beyond; and help entrepreneurs create new Arizona businesses in targeted industries. For more information, please visit azcommerce.com and follow the ACA on Twitter @azcommerce.