TSMC Arizona secures funding ahead of Trumps term; other companies scramble [Video]

PHOENIX (AZFamily) — The Biden Administration announced Friday it has finalized the $6.6 billion investment in TSMC Arizona through the CHIPS Act, but more than 20 companies are still racing to secure promised funding before President-elect Donald Trump takes office.

One of those companies is Intel, which is building a semiconductor manufacturing facility in Chandler.

“We have confidence in Intel’s long-term vision for U.S. manufacturing and continue to discuss their award with them,” said Geoff Burgan, a spokesperson for the U.S. Department of Commerce.

On the campaign trail, President-elect Donald Trump expressed contempt for the CHIPS Act, one of the signature achievements of Joe Biden’s presidency.

In October, Trump told podcaster Joe Rogan the U.S. could avoid subsidies to “rich companies” by imposing stiff tariffs instead.

“You didn’t have to put up 10 cents,” Trump said. “You tariff it so high that they will come and build their chip companies for nothing.”

On Friday, President Biden called the finalized deal with TSMC “among the …