Amid growing international investment, the Arizona Commerce Authority (ACA), Greater Phoenix Economic Council (GPEC), and Arizona State University (ASU) have signed a Memorandum of Understanding (MOU) with the Japan External Trade Organization (JETRO). The signing ceremony took place on March 4, 2026, in Phoenix, bringing together more than 50 Japanese government, business, academic, and community leaders alongside representatives from Arizona’s industry, education, and government sectors.
The agreement aims to enhance collaboration between Arizona and Japan in key areas such as semiconductors, research and development, and workforce development. Under the MOU, the parties will jointly organize events to facilitate connections and expand opportunities. Collaborative programs will focus on joint research with Japan’s semiconductor ecosystem and human resource development. The agreement also seeks to connect Japanese regional ecosystems with ASU and Arizona-based companies.
The partnership is expected to support technological exchange and human resource development involving Japanese companies, universities, local governments, and their counterparts in Arizona. Events and programs will be organized among all four parties to promote this cooperation.
By leveraging JETRO’s network within Japan’s industrial regions along with ASU’s research expertise in Arizona’s core industries—and ACA’s and GPEC’s company networks—the MOU intends to develop strong industrial ecosystems in both regions.
Recent years have seen increased collaboration between JETRO, ASU, ACA, and GPEC through delegation visits between Arizona and Japan. In December 2025 an Arizona delegation visited Japan. The number of Japanese firms operating in Arizona has risen steadily; trade volume reached a record high in 2024. In September of that year Arizona opened a new Trade and Investment office in Japan aimed at boosting economic ties.
Since 2015 total trade between the two regions has more than doubled to approximately $3 billion. Last year alone Japan was the top source for foreign direct investment into Arizona—15 projects totaling $2.4 billion.
Arizona has established itself as a leader in semiconductors since 2020 by attracting over 70 expansions worth more than $214 billion dollars resulting in about 28,000 jobs. Its semiconductor sector includes advanced manufacturing facilities (“fabs”), suppliers, packaging operations, R&D activities, as well as workforce initiatives. Meanwhile Japan continues its leadership role particularly in materials and manufacturing equipment for advanced packaging technologies across various regions.
Sandra Watson, President & CEO of the ACA said: “This MOU signing marks an important milestone in strengthening Arizona’s partnership with Japan. Through this collaboration we are deepening our shared commitment to advance innovation attract investment and expand semiconductor collaboration opportunities—and we’re grateful to JETRO GPEC and ASU for their partnership.”
Christine Mackay President & CEO of GPEC stated: “As the relationship between Japan and Arizona grows we’re excited for the opportunities presented by the MOU to coordinate new programming research and business expansion. JETRO has been an excellent partner over the past several years—and through continued collaboration our markets will find mutual progress in the development of advanced technologies.”
Sally Morton Executive Vice President for ASU’s Knowledge Enterprise added: “Collaboration is extremely important in a time of rapid change—and ASU is eager for the opportunity to provide its resources to the state of Arizona alongside the Arizona Commerce Authority and GPEC to advance this new opportunity with JETRO. This agreement puts together a team that has a track record of making an impact—and together we will focus on maximizing the momentum established through the work of the past several years. ASU looks forward to being of service to Arizona and deepening our connections with colleagues in Japan.”
Akira Kajita Chief Executive Director at JETRO Los Angeles said: “We are honored to sign this memorandum of understanding. Since 2022 JETRO has dispatched multiple missions to Arizona to assess the investment environment for Japanese companies in the semiconductor sector supporting exchanges between Japanese firms and Arizona’s rapidly growing semiconductor ecosystem. With this memorandum we strongly anticipate further technological innovation in the semiconductor back-end process field; an area where Japan excels as well as strengthening of the industrial foundation between Japan and United States.”
According to the ACA, economic development efforts led by it resulted in record job projections during Fiscal Year 2022—with approximately 24,186 new jobs projected statewide—exceeding goals set earlier that year.
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