TSMC's investment will total $165 billion at full buildout with six fabs, two advanced packaging facilities and a research and development center. That's the largest investment in Arizona's history and the largest foreign direct investment in the U.S. "It's incredible isn't it?" Mackay said.

Read more about Taiwan-based TSMC's plans to invest $100 billion more in its semiconductor manufacturing operations in Arizona to advance AI efforts.

TSMC’s expanded investment is expected to support 40,000 construction jobs over the next four years and create tens of thousands of jobs in advanced chip manufacturing and R&D. It is also expected to drive over $200bn of indirect economic output in Arizona and across the United States in the next decade.