A recent report said Apple plans to "begin sourcing chips for its devices from a plant under construction in Arizona, likely the Taiwan Semiconductor Manfuacturing Co. factory currently under construction in north Phoenix, Bloomberg News reported. 

TSMC "will offer advanced 4-nanometer chips when its new $12 billion plant in Arizona opens in 2024, an upgrade from its previous public statements, after US customers such as Apple Inc. pushed the company to do so," the story said. 

Semiconductor shortages have affected industries from automakers to consumer electronic devices since the pandemic hit in March 2020.

"The Biden administration intends to bolster domestic manufacturing through the $50 billion in subsidies from the Chips and Science Act that the president signed into law in August," the Bloomberg story said. "TSMC is likely to receive billions in subsidies."

Next week, President Joe Biden is scheduled to visit north Phoenix and the TSMC site, the White House announced. 

Biden will attend a scheduled TSMC event Dec. 6 where attendees will get a firsthand look at construction progress and learn about updates on the project.

Apple CEO Tim Cook and U.S. Commerce Secretary Gina Raimondo were among those rumored to be in attendance. 

 TSMC and technology industry executives and other dignitaries connected to TSMC  Arizona are expected to attend. 

"TSMC has not published or shared any names of any confirmed guests or speakers — other than the president," said Christine Dotts, a TSMC Arizona spokesperson.  "No, I cannot comment or confirm." 

Construction on the first phase of the first TSMC building is ongoing.

The first building is expected to be complete next summer at the commerce park called Sonoran Oasis Science and Technology Park near Interstate 17 and Loop 303 in far northern Phoenix.

The site is part of a 3,500-acre technology park just up the road for Phoenix Deer Valley Airport, itself a hub for manufacturing that could see big gains as a result of the new plant.