Arizona group inks agreement with Taiwan aimed at attracting more chip companies

The logo of Taiwan Semiconductor Manufacturing Co (TSMC) is pictured at its headquarters, in Hsinchu, Taiwan, January 19, 2021. REUTERS/Ann Wang

(Reuters) - An Arizona economic development group on Tuesday said it had made a deal with Taiwanese economic development officials aimed at making the U.S. state more attractive to Taiwan's semiconductor industry as the world's biggest chipmaker eyes a $12 billion plant in Phoenix.

The Taiwan-USA Industrial Cooperation Promotion Office, which is supported by Taiwan's Ministry of Economic Affairs, signed an agreement with economic development officials in the greater Phoenix area to find ways to bring more of Taiwan's vast semiconductor industry to the metro area.