Arizona continues to attract major employers and manufacturers across a wide range of industries thanks to our pro-business environment, limited regulatory burden, and innovative spirit.

For example, LG Energy Solutions in 2023 announced a historic investment of $5.5 billion into building a new battery manufacturing complex in Queen Creek. Taiwan Semiconductor Manufacturing Company (TSMC) selected Phoenix’s northwest valley as the home of its U.S. operation in 2020 and has since expanded its footprint, with plans to invest a record-breaking $265 billion in our state. As of 2025, TSMC's supply chain in Arizona supported nearly 10,000 jobs and is projected to generate roughly $1.5 billion in direct and indirect state tax revenue over 10 years.

Companies like TSMC, LG, and countless other large employers also drive demand for a massive network of suppliers and small businesses supporting their operations.

They require packaging, logistics, construction, engineering, maintenance, and other professional services, creating opportunities for businesses of every size. Additionally, the companies’ hundreds to thousands of employees increase demand for housing, retail, healthcare, education, and more 

This relationship is mutually beneficial. As Arizona’s suppliers and workforce grow alongside these employers, companies gain access to the talent, infrastructure, and business ecosystem they need to expand and succeed.

All of this combined is a competitive advantage for Arizona: new jobs, stronger local businesses, and prosperous communities. By fostering an environment where businesses of all sizes can succeed together, the state continues to attract transformative investment while creating lasting economic opportunity for Arizona families and communities.