Biden visits Arizona computer chip plant, discusses job growth
A $40 billion investment by the Taiwan Semiconductor Manufacturing Company furthers Biden's economic agenda, the White House said
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President Biden touted his economic agenda Tuesday while touring a massive computer chip plant under construction in Arizona where he said he highlighted his policies as fostering job growth.
Biden gave his remarks at the Phoenix, Arizona facility of the Taiwan Semiconductor Manufacturing Company, which is building a second plant. He discussed TSMC's new $40 billion investment as an outgrowth of his economic plan, which he has largely staked on infrastructure and technology.
Biden administration officials said the two TSMC plants as well as new factories by Intel, Micron, Wolfspeed and others could give a decisive edge to the American military and economy at time when competition with China is heating up.
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President Joe Biden speaks about his economic agenda after touring the building site for a new computer chip plant for Taiwan Semiconductor Manufacturing Company in Phoenix. (AP / AP Images)
"American manufacturing is back, folks," he said. "As we see here in Phoenix, the United States is a top destination for companies across the globe looking to make investments."
Apple CEO Tim Cook and Advanced Micro Devices CEO Lisa Su were also in attendance Tuesday as well as Arizona Gov. Doug Ducey and his newly elected Democratic successor, Katie Hobbs.
Chips are a core part of many products from smartphones to washing machines and other devices. However, manufacturing them is cost prohibitive.
When Biden took office in 2021, more than 18 million people were receiving unemployment benefits, the White House. As of Tuesday, that number was down by 90%, the White House said.
"What I’m most excited about is people are starting to feel a sense of optimism as they see the impact of the achievements in their own lives," Biden said Tuesday. "It’s going to accelerate in the months ahead, and it’s part of a broad story about the economy we’re building that works for everyone."
President Joe Biden tours the building site for a new computer chip plant for Taiwan Semiconductor Manufacturing Company. (AP / AP Images)
Ronnie Chatterji, White House coordinator for the chip investments, said these investments will shape entire regions of the country in ways that are overlooked now.
"Ten years from now we’ll be talking about all the jobs in Arizona," Chatterji said in an interview. "You won’t be able to talk about that part of Arizona without thinking about the impact of those companies."
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The Associated Press contributed to this report.