How multibillion-dollar plans from TSMC, Intel compare to other gigantic US tech projects

The Phoenix metro is home to some of the most ambitious economic development projects in the country, including major semiconductor factories from Intel Corp. and Taiwan Semiconductor Manufacturing Co.

But how do the Valley’s major projects compare to other large U.S. projects? That’s hard to track, but a recent slate of CHIPS Act funding announcements have offered updated — and eye-popping — investment figures.

Here’s a look at how Phoenix-area projects compare with some of the largest investments announced across the United States over the past few years.

Intel in Arizona, New Mexico, Ohio and Oregon: More than $100 billion

The biggest winner so far in President Joe Biden’s CHIPS Act awards is Intel Corp., which received $8.5 billion in direct funding to expand sites in four states.

The bulk of that will be at Intel’s existing sites in Chandler near Phoenix and Hillsboro near Portland, as well as its new leading-edge manufacturing site in New Albany, Ohio. Intel’s investments are expected to create more than 10,000 company jobs and nearly 20,000 construction jobs, as well as support more than 50,000 indirect jobs with suppliers and supporting industries.

Micron Technology in New York: $100 billion

The Idaho-based company passed on Lockhart south of Austin and instead announced that it would be building a massive fabrication facility in Clay, New York.

The company intends to invest up to $100 billion over the next two decades, with the first $20 billion investment phase planned by the end of this decade. The new megafab is expected to create 50,000 New York jobs over the next two decades.

Taiwan Semiconductor Manufacturing Co. in Arizona: $65 billion

Another big winner in the CHIPS Act, TSMC received nearly $12 billion in subsidies to help with the construction of its fab in north Phoenix.

The announcement enabled TSMC to increase its investment to $65 billion from $40 billion as it plans to build a third facility. TSMC is expected to start production in the first half of 2025 and employ more than 6,000 workers, up from the 4,500 initially anticipated.

Samsung in Taylor, Austin: $45 billion

Federal officials announced this month that Samsung Electronics Co. Ltd. will increase its investment to $45 billion, primarily in Taylor but also at its long-time site in North Austin. New commitments include an additional fabrication line, a research-and-design facility and more that’s set to come online by the end of the decade.

In the next five years, the plans will lead to the creation of 4,500 manufacturing jobs, at least 17,000 construction jobs and tens of thousands of indirect jobs spurred by the influx of Samsung suppliers moving to the region. With $18 billion previously invested in Austin over the decades, and the $45 billion in the works, Samsung’s investment tally for Central Texas would be a whopping $63 billion.

Texas Instruments in Sherman: $30 billion

TI is well underway on the first phase of what’s expected to be a $30 billion, four-factory semiconductor manufacturing campus. At full buildout, the site outside of Dallas is expected to create about 4,000 new jobs. The first products are set to roll off the line next year.

IBM in New York: $20 billion

Right after passage of the federal CHIPS Act, Big Blue in 2022 announced plans to invest $20 billion in the Hudson Valley region over the next decade to help fund research, development and manufacturing of semiconductors as well as quantum computing and artificial intelligence systems.

Micron in Idaho: $15 billion

While it works on its new site in New York, Micron is also working on an expansion of facilities at its headquarters in Boise. The $15 billion investment is expected to occur over a decade, with clean room space coming online first in 2025. Micron’s investment is expected to create over 17,000 Idaho jobs, including 2,000 direct Micron jobs as the cleanroom is built out and production is fully ramped.

TI in Utah: $11 billion

While it continues work in Sherman, the Dallas-based semiconductor manufacturer has also announced plans to expand its campus in Utah. The announcement noted that it will add approximately 800 jobs. It’s expected to start production in 2026.

Tesla in Travis County: $10 billion

Specific plans for Elon Musk’s gigafactory have been hard to pin down, but the billionaire has said that the Tesla site near Austin will constitute an investment of more than $10 billion and millions of square feet of floor space. Some with the company recently said they invested $4.3 billion in 2023 alone. The vehicle manufacturing facility has already created nearly 23,000 jobs — although some workers were recently laid off — and company officials have said previously that 60,000 people eventually may work at the site.

Foxconn in Wisconsin: $10 billion, initially

The Hon Hai Precision Industry Co. Ltd. — or Foxconn — campus in Wisconsin is widely considered a cautionary tale when it comes to huge investment promises. Buoyed by large tax subsidies, the company that makes products for Apple Inc. had big plans for the Wisconn Valley Science and Technology Park, including 13,000 workers and $10 billion in investment. Much of that failed to materialize, and Foxconn later pared its planned investment to $672 million and 1,454 new jobs. Parts of the site were sold off for a data center.

Iberdrola Cooperative in Massachusetts: $10 billion

The Spain-based global energy and electricity provider announced in 2022 plans to invest $10 billion in the development of three offshore wind complexes in Massachusetts.

Amazon in Virginia HQ2: $5 billion

The Amazon HQ2 sweepstakes is the stuff of lore. Hundreds of cities in the United States, Mexico and Canada responded to the Seattle-based e-commerce giant’s request for proposals in 2017, including Austin, with excessive and lavish promises for the company. Amazon eventually announced that it would split its planned $5 billion investment and 50,000 jobs between an existing site in Virginia and a new site in New York. The latter site was canceled after criticism regarding corporate welfare, and the project has fallen well short of expectations. Many of Amazon’s white-collar workers have since been funneled to Amazon’s North Austin campus in The Domain.