Arizona's Semiconductor Boom: From Traditional Economy to Chip Manufacturing Hub

Arizona's economy was once dominated by the 'five C's': cotton, cattle, citrus, copper, and climate. But a new C has emerged that could grow to overshadow the rest: chips.

New semiconductor manufacturing facilities are springing up across the Greater Phoenix area, stretching across blocks of new roads with names like 'Processor Parkway' and 'Transistor Terrace.'

Just outside the facilities, developers anticipating an influx of workers are planning mixed-use residential and industrial zones like mini modern-day company towns.

'It should be the sixth C,' says Thomas Maynard, senior vice president

Will it bring back manufacturing jobs? Or guzzle up too much water in the desert? Can the semiconductor industry avoid repeating the same mistakes it made in Silicon Valley?