TSMC buys 900 acres of Arizona state land at auction

TSMC bought 900 acres of Arizona State Trust Land at auction on Wednesday, teeing up an expansion of the chipmaker’s site off Loop 303 and Interstate 17 in north Phoenix.

TSMC paid nearly $200 million for the parcel, which is planned to be part of the much larger NorthPark project that developers say will also include hiking trails and residential units.

Phoenix approved the development last month, which will almost double TSMC’s footprint in the area and allow it to add new facilities.

That expansion faced opposition at a council meeting last month, where residents wanted to keep the campus north of Loop 303.

In a statement, Councilwoman Ann O’Brien claimed the expansion will allow TSMC to generate thousands of jobs. Money from state land goes toward Arizona’s public school system.