TAIPEI (Taiwan News) — Taiwan Semiconductor Manufacturing Company (TSMC) said on Thursday (Nov. 5) that plans for its new wafer fab in Arizona will not change, regardless of who wins the American presidency.

The world's largest semiconductor foundry emphasized there are no political motives behind the plan. Rather, the decision was made from business considerations such as costs and customer needs.

"The plan will not change whoever wins the presidential election," a TSMC statement read.

TSMC announced earlier this year that it would be building an advanced 5 nm wafer fab in Arizona for US$12 billion. Construction is slated to begin in 2021, and mass production will likely begin in 2024, with a planned monthly production capacity of 20,000 wafers. The plant is using LinkedIn to search for new employees.

The foundry plan was reportedly partially driven by the request of its customer Xilinx, which designs chips for the U.S. defense industry. It was thought that by relocating production to the U.S., it would prevent China from stealing American technologies.

Meanwhile, analysts say a Joe Biden victory is good news for TSMC, as the Democrat is expected to take a slightly softer line on the U.S.-China trade dispute and on Huawei. Wall Street analysts anticipate ess economic uncertainty, fewer business risks, and a smooth high-tech supply chain if Biden wins the White House, Dan Ives of Wedbush Securities said in a note to investors earlier this week.