02 — Phoenix, Arizona, USA.

TGNA Foresight Score: 89 · ▲ Ascending

The signal: In March 2025, TSMC expanded its total Phoenix commitment from $65 billion to $165 billion making it one of the largest foreign direct investment projects in the United States.

Signs: The Greater Phoenix semiconductor ecosystem now includes TSMC, Intel (four fabs in Chandler), NXP Semiconductors, ON Semiconductor, and Microchip Technology within a concentrated geography. No other North American city has assembled this density of advanced chip manufacturing in the current cycle.

Events: Phoenix is home to more than 75 semiconductor companies, forming the densest advanced chip manufacturing ecosystem in North America. Since 2020, the region has attracted more than 60 semiconductor expansions representing $205 billion in investment and 25,000 projected jobs.

Trends: Capital commitments are growing, workforce pipelines are expanding and the region is attracting complex, high-value operations that deepen its position in the global chip supply chain with every cycle.

Drivers: Phoenix sits at the intersection of federal industrial policy and geographic advantage, backed by a state government that has made semiconductor manufacturing a generational strategic priority. And unlike previous U.S. manufacturing booms driven by cost alone, this one is anchored in technological sovereignty designed to last.

North America's semiconductor capital, home to the largest single foreign investment in American history.

Federico Quinzaños

Founder - The Grand North America