Taiwan Semiconductor Manufacturing Company’s (TSMC) chip plant in North Phoenix is making an additional $28 billion of investment in Arizona, growing from $12 billion to $40 billion. The $12 billion investment was already the largest in Arizona history. In terms of scale, this is the largest foreign direct investment in Arizona history, and it’s one of the largest in U.S. history.

TSMC also says it will produce advanced, smaller, 3-nanometer chips by 2026 at that new factory, or fab. The company also will announce plans to develop more advanced chips at the original facility now under construction, going from 5 nanometers in size down to 4. TSMC accounts for an estimated 90% of the world’s advanced computer chips and supplies technology giants such as Apple (AAPL) and Qualcomm (QCOM).

TSMC originally was planning on hiring about 2,000 people at its north Phoenix complex, but that could rise to 4,500 including the second phase. That’s in addition to an estimated 10,000 construction jobs.