Rep. Greg Stanton today visited the Taiwan Semiconductor Manufacturing Company’s plant with President Joe Biden, Secretary of Commerce Gina Raimondo and other elected and business leaders.

The visit comes as TSMC announced it will build a second manufacturing facility in Phoenix, more than tripling its investment in Arizona to $40 billion—one of the largest direct foreign investments anywhere in the United States.

“Our semiconductor plants are the anchors of a high-tech corridor that stretches across the entire valley—the result of years of hard work and investment. This record-breaking investment sends the message that Arizona and Phoenix are at the highest level of play when it comes to the economic development competition in America and the world—and that we are poised to win,” Stanton said.

“This is exactly why we passed the CHIPS and Science Act, to ensure companies like TSMC and Intel can grow and build right here. By doing so, we are expanding our local economy, growing the number of available high wage jobs and ensuring our city and state’s success for generations to come. I thank the President and his administration’s support for delivering crucial results for our residents.”

Stanton, an early champion of legislation to support Arizona’s growing semiconductor industry, was among the first cosponsors of the bipartisan CHIPS for America Act, which was included in the FY21 National Defense Authorization Act and signed into law. He led efforts in the House and among the Arizona Congressional Delegation to fully fund the initiative.