GPEC Helps Dozens of Businesses Set Up Shop in Arizona in Past Year Article originally posted on Phoenix Business Journal on August 20, 2024 The Phoenix region is in the throes of a monumental run of business expansions and economic development announcements. This year alone, Taiwan Semiconductor Manufacturing Co. upped its investment in Phoenix from $40 billion to $65 billion, the largest foreign direct investment in Arizona’s history, and secured nearly $12 billion in federal CHIPS Act subsidies and loans. Amkor Technology Inc. also announced plans for a $2 billion semiconductor testing and packaging plant near TSMC, while LG Energy Solution kicked off construction of its first battery manufacturing plant in the Valley. The Greater Phoenix Economic Council helped 49 major companies expand in the Phoenix market during its latest fiscal year, which runs from July 2023 through June 2024. That figure includes expansions from Republic Services, ASM, DSV and SolarTech, among others. The economic development wins represented about $3 billion in capital investment and 7,431 jobs created, with an average salary of $73,000. These companies were part of a larger $50 billion in capital investment and 24,251 projected jobs that the Arizona Commerce Authority helped secure across Arizona in fiscal year 2024. Some of the most notable Valley business expansions and announcements in the past year were: Read complete article here.