Arizona has rapidly become an epicenter for electric vehicle and self-driving tech, and it’s now the site of three big new semiconductor factories as the U.S. struggles to increase production during the global chip shortage. The Arizona Commerce Authority says it helped 634 companies relocate or expand in Arizona between 2015 and 2020. Big names include Intel, Taiwan Semiconductor Manufacturing Co. and electric vehicle companies Lucid Motors, ElectraMeccanica, Nikola and Atlis Motor Vehicles. In 2020, Phoenix attracted more residents than any other U.S. city for the fourth year in a row, as highly skilled remote workers flocked to the lower cost of living and wide open spaces of the Grand Canyon State. Watch the video to hear from Gov. Doug Ducey, big companies, and Arizonans about why the tech boom is happening and how it’s changing the state. » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Subscribe to CNBC PRO: https://cnb.cx/2NLi9AN #CNBC Why Arizona Is Becoming A Hotbed For Tech