Peter S. Goodman

At the end of the day, when it's all built, they'll be making roughly a third of all the advanced chips they make worldwide right there in Phoenix, Arizona.

It's a very big deal.

It's a very big deal for TSMC.

It's a very big deal for the United States.

And it's certainly a very big deal for the local economy in Phoenix, which has traditionally been very tied to the boom and bust cycle of real estate.

And now we're talking about thousands of jobs and construction to build this, thousands more to eventually make the chips themselves.

And then there's all sorts of associated services, lawyers, insurance companies, caterers, truck drivers, where

Right.

Any state would kill for this kind of economic activity.

That's right.

So on the day of the groundbreaking, this is December 2022, you've got the Republican governor of the state of Arizona.

You've got members of the Senate.

You have union representatives, university presidents.

And finally, Joe Biden, the Democratic president, shows up leading the parade in celebration of this enormous triumph in economic development.

The president is associating his administration with reclaiming the future.

He's delighted to be talking about what a huge deal this is for the rejuvenation of American manufacturing and in something that's, you know, forward-looking.

This is building an American future in a technology that the U.S.

actually pioneered.

Yeah.

This is a real-life manifestation of what this enormous economy, full of talented, skilled people.