Crypto mining hardware manufacturing heavyweight TSMC has reportedly disclosed details of its initiative to establish a $12 million factory located in Arizona, USA. 

Specifically, Taiwan Semiconductor Manufacturing Co. (TSMC) – a major semiconductor producer of the world and one of the top 3 chip manufacturers – will be setting up its second US-based facility in Arizona. 

The constructed plan is reportedly scheduled to begin the following year, and TSMC expected it to start making 5-nanometer transistors from 2024. 

Approximately 1,600 new openings will be generated following the establishment of the facility, with TSMC planning to authorize a $12 billion investment into the factory within 2021 and 2029.

TSMC has previously gotten a facility in Washington up and running, along with design centers based in California and Texas.

The initiative to set up another facility by TSMC has reportedly received the support from the Trump administration – referring to the way the US depends on Asian semiconductor and chip manufacturers as a national security risk for numerous years. 

“The U.S. welcomes TSMC’s intention to invest $12B in the most advanced 5-nanometer semiconductor fabrication foundry in the world. This deal bolsters U.S. national security at a time when China is trying to dominate cutting-edge tech and control critical industries,” U.S. Secretary of State Mike Pompeo reportedly remarked via Twitter.