Arizona Opens New Trade and Investment Office In Taiwan

PHOENIX, AZ (March 20, 2023) — Governor Katie Hobbs announced today the opening of Arizona’s trade and investment office in Taiwan. The new office, a part of the Arizona Commerce Authority, is located in Taipei, Taiwan and serves as a platform to increase economic collaboration and foreign direct investment opportunities.

“We are thrilled to expand ties with one of Arizona’s strongest international partners through this new office,” said Governor Hobbs. “Arizona’s partnership with Taiwan extends back decades and continues to have a global impact through the construction of TSMC’s high-tech semiconductor fabs in Phoenix. We look forward to growing this important relationship even stronger and deepening our leading-edge collaboration in technology, manufacturing, research and development sectors and more.”

In December, Taiwan Semiconductor Manufacturing Company (TSMC) announced a $40 billion investment to build two of the world’s most sophisticated semiconductor fabs in north Phoenix. The two factories will support 4,500 local jobs and represent Arizona’s largest foreign direct investment ever. Since TSMC’s initial announcement in 2020, more than 20 semiconductor companies and suppliers, including over six from Taiwan, have announced new projects or expanded existing operations in Arizona.

“Arizona’s new trade office in Taiwan builds on years of close collaboration and promises to increase opportunities for further economic partnership,” said Sandra Watson, President and CEO of the Arizona Commerce Authority. “We are excited to open the office in Taiwan and further strengthen the relationship between Arizona and Taiwan. My thanks to our Legislature for their support to increase Arizona’s global competitiveness.”

Trade between Arizona and Taiwan has increased rapidly in recent years, growing by nearly 220% since 2017 and totaling more than $3.27 billion in 2021. Arizona’s largest category of exports comes in Semiconductors and Other Electronic Components followed by Aerospace Products.

The Arizona Commerce Authority has selected Leland Lai, a business executive, strategist and consultant with extensive experience across the U.S. and Asia, to lead the Taiwan office. Previously, Mr. Lai worked as a market entry and strategy consultant and served as Managing Director, Asia, for GSMA, an industry trade association for over 800 mobile carriers.

In 2021, Arizona signed a Memorandum of Understanding (MOU) with Taiwan’s Bureau of Foreign Trade, which outlined steps Arizona and Taiwan are taking to enhance private sector collaboration and grow supply chains.

Media Contact
Alyssa Tufts, Arizona Commerce Authority, [email protected]

About the Arizona Commerce Authority
The Arizona Commerce Authority (ACA) is the state's leading economic development organization with a streamlined mission to grow and strengthen Arizona's economy. The ACA uses a three-pronged approach to advance the overall economy: attract, expand, create - attract out-of-state companies to establish operations in Arizona; work with existing companies to expand their business in Arizona and beyond; and help entrepreneurs create new Arizona businesses in targeted industries. For more information, please visit azcommerce.com and follow the ACA on Twitter at @azcommerce.