After facing significant backlash from local residents, the Taiwan Semiconductor Manufacturing Company (TSMC) has decided to reconsider the location initially chosen for its upcoming 1nm chip factory.

What happened: According to a report by 9to5Mac, the Taiwanese tech giant TSMC, a key supplier for Apple Inc. (NASDAQ:AAPL), had originally planned to construct its new chip manufacturing plant in Longtan, Northern Taiwan. However, the chosen location would have required certain residents to relocate, causing a wave of protests.

In response to the protests, TSMC has agreed to explore alternate sites for its new factory. The company aims to work alongside the government-run Science Park Administration to identify suitable land within Taiwan to construct semiconductor factories. The details of the potential alternative sites have not been revealed yet.

Building a new plant involves substantial power and water resources, indicating a substantial infrastructure investment. Recognizing the industry’s crucial role, Taiwan’s Economic Minister ensured that the government would offer the necessary support.

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Full story available on Benzinga.com