Why tech companies like Amazon, Google and TSMC are flocking to Phoenix
Phoenix, a longtime hub for aerospace and defense, is becoming an epicenter of semiconductor manufacturing and autonomous vehicles.
Tech might not be the first thing that comes to mind when one pictures Phoenix. The city is better known for its golf courses, Major League Baseball's Spring Training, retirement appeal and scorching heat.
But its growth into an innovation hub has been quietly playing out over several decades. Arizona's largest city has, for a variety of reasons, become the epicenter for semiconductor manufacturing, and testing self-driving cars and drones.
"If we look at cities that really do end up becoming these, you know, important technology hubs, there are really four things that we usually see, and Phoenix really has all of them going," said Anne Hoecker, global head of technology at Bain Global. "The first is a favorable business environment. The second really is that ecosystem of other companies. The next is really close proximity to a university that has a strong engineering program. And then finally it is that availability of talent."
Technology companies have flocked to the city to capitalize on those perks. Taiwan Semiconductor Manufacturing Company, or TSMC, is among the biggest.