Arizona Gov. Ducey awards $100M for semiconductor boost - Axios PhoenixLog InLog InAxios Phoenix is an Axios company.

Ducey awards $100M for semiconductor boost

Photo illustration: Brendan Lynch/Axios. Photo: Michael Brochstein/SOPA Images/LightRocket via Getty Images Gov. Doug Ducey is allocating $100 million worth of federal funding to boost the state's growing semiconductor industry. Driving the news: Ducey announced last week that he was awarding $100 million that the state received from the American Rescue Plan Act to the Arizona Commerce Authority (ACA).He called the funding a "historic investment in our semiconductor ecosystem." Details: ACA spokesperson Patrick Ptak tells Axios that the primary purpose of the funding is to strengthen Arizona's ability to compete for grants made available through the , which is intended to expand semiconductor manufacturing in the U.S.The $11 billion for research and development and $39 billion to accelerate semiconductor production, including $6 billion worth of grants and loans. Why it matters: Semiconductors are a , and the industry is growing in Arizona. Taiwan Semiconductor Manufacturing C0. (TSMC) is building a massive facility in north Phoenix that's expected to begin production in 2024. State leaders hope it will help turn Arizona into a major hub for semiconductor manufacturing. TSMC is also considering a major expansion of the facility, which is already under construction, the yesterday. Chang Chun Arizona in Casa Grande last month that will provide chemicals for semiconductor production. What we're watching: The ACA isn't saying yet exactly what it will spend the money on. Ptak says only that the money will be used for infrastructure, workforce development and research, and that more information will become available in the coming weeks. Get more local stories in your inbox with .Subscribe Support local journalism by becoming a member.

More Phoenix stories

No stories could be found Get a free daily digest of the most important news in your backyard with Axios Phoenix.Subscribe Support local journalism by becoming a member.