PHOENIX — The state of Arizona announced on Friday that it plans to invest $100 million to support the growth of the state's semiconductor industry.
The $100 million investment will go towards building a public-private partnership focused on building out Arizona's infrastructure, workforce and research and development for semiconductors, the state said.
“Arizona has earned a place as one of the world’s leading destinations for chip design, manufacturing and innovation,” Gov. Doug Ducey said in a statement. "This funding ensures we make the most of this moment and cement our semiconductor leadership for decades to come."
The funds will be managed by the state's economic development agency, the Arizona Commerce Authority, and be used to help accelerate development, commercialization and manufacturing of U.S. semiconductor technologies while identifying research infrastructure and workforce needs, the state said.
Read more of this story from the Business Journal.
