PHOENIX – More than 270 companies from around the world are planning to expand or relocate to the Phoenix area, a spokesman for a Valley Economic Development Agency said.
“The projects represent a tremendous number in terms of impact on our residents – 16,000 jobs and more than $ 50 billion in capital investments,” Josh Reed of the Greater Phoenix Economic Council told KTAR News 92.3 FM.
“In terms of business attraction, there has really never been as much interest as there is in Phoenix right now from companies around the world looking to invest and expand and relocate to the region.”
Taiwanese chipmaker TSMC, the world’s largest semiconductor foundry, is building a $ 12 billion manufacturing facility in Phoenix, due to open in 2024.
“We’re really seeing a super cycle of what a project of this size can do for a region,” Reed said.
“In the semiconductor space alone, there are 45 companies evaluating larger Phoenix for investment and a range of business activities to directly support TSMC, but our larger semiconductor ecosystem as a whole.”
Reed added that these projects represent 12,000 jobs and more than $ 65 million in capital expenditures.
He said the Valley lost around 242,000 jobs at the height of the pandemic. Approximately 80% were cured and he is optimistic for a full recovery in early 2022.
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