New BLS data proves that Arizona has backed the right horse for its economic future

One major development in this industry in the state has been new facilities by global giants.

PUBLISHED OCT 5, 2024

Without a doubt the industry of the future.

Phoenix, Arizona: On the 13th annual Manufacturing Week October 4-11, the US Census Bureau has released its economic data and the most current Bureau of Labor Statistics (BLS) reports on the semiconductor industry.

Taiwan's semiconductor industry is a cornerstone of the global technology ecosystem, driven by leading companies like TSMC, UMC, and MediaTek.

In the first quarter of 2020, there were 1,876 establishments in the semiconductor and related device manufacturing industry, according to BLS. By the first quarter of 2024, that number had risen to 2,545 establishments. The number of employees rose as well: 185,370 in January 2020 compared to 202,029 in January 2024.

The Census Bureau’s Annual Survey of Manufactures (ASM) shows a spike in US value of shipments in the semiconductor and related device manufacturing industry from 2018 ($52.7 billion) to 2021 ($58.7 billion).

Intel, which has had a presence in Arizona for decades (pictured above is its Ocotillo Campus), has announced a $20 billion expansion project to build two new semiconductor factories in Chandler.

The average annual salary has consistently gone up from 2018 ($107,943), 2019 ($110,985), 2020 ($112,184) to 2021 ($116,254).

Related to the manufacturing process of semiconductor and related device manufacturing, the Annual Capital Expenditures Survey (ACES) shows growth in both robotics expenditures and total equipment expenditures from 2020 to 2022.

Expenditures for semiconductor and other electronic component manufacturing rose from $579 million in 2020 to $1.0 billion in 2022. Total equipment expenditures for semiconductor and other electronic component manufacturing increased from $14.4 billion in 2020 to $30.3 billion in 2022.