The head of Taiwan Semiconductor Manufacturing Co. (TSMC) and President Donald Trump announced yesterday that the company will invest as much as $100 billion to build three more computer chip factories, two advanced packaging centers and a research and development center. President Trump estimates the investment will result in the hiring of 20,000 workers at the plants. TSMC CEO C.C. Wei unveiled the company’s investment to spur domestic production of AI chips, building upon the company’s previously announced $65 billion investment in its north Phoenix fab site.

TSMC’s expanded investment is expected to support 40,000 construction jobs over the next four years and create tens of thousands of high-paying, permanent high-tech jobs in advanced chip manufacturing and R&D. The expansion is also expected to generate more than $200 billion in indirect economic output in Arizona and the U.S. within a decade.

TSMC, the world’s biggest semiconductor manufacturer, produces chips for companies including Apple, Intel and Nvidia. The company began mass production of chips for Apple in January.