The semiconductor maker is getting the money under the Chips Act. The cash will support the company’s planned investment of $65 billion to create a production cluster near Phoenix.

The Biden administration finalized its Chips Act incentive awards for Taiwan Semiconductor Manufacturing Co., marking a major milestone for a program meant to bring semiconductor production back to US soil.

Under the agreement, the chipmaker will receive up to $6.6 billion worth of grants to finance a fab complex it’s currently building in Arizona. TSMC also has the option to access up to $5 billion in loans.