WASHINGTON (AP) — The White House says a $100 billion semiconductor company based in Singapore will move its home address to the U.S.
Broadcom Limited manufactures communications chips. The company says it will legally relocate to Delaware once shareholders approve the move, bringing $20 billion in annual revenue to the U.S. The White House says it's the largest such move to the U.S. in decades.
Broadcom's corporate headquarters already are in San Jose, California, and will remain there.
President Donald Trump plans to make the announcement Thursday from the Oval Office. It comes just after Republicans released their tax overhaul plan.
The company says it will move to the U.S. regardless of the tax plan's fate as it seeks to close an acquisition of American networking company Brocade.