TSMC will add 8,000 research and development jobs dedicated to manufacturing 3nm process nodes and beyond.

The move was announced by Mark Liu, executive chairman of TSMC, at a tech networking event on Thursday (Oct. 31), Taiwan News reports. He said the company would hire an additional 8,000 engineers at its new R&D center in northern Taiwan, with construction anticipated to be completed by the end of 2020.

A TSMC employee was cited as saying that the new campus will be dedicated to developing 3nm semiconductor chips.

The worlds largest chip maker plans to spend many billions of dollars on developing new technologies and materials required in order to move to more advanced manufacturing nodes.

The Taiwan-based company has taken the lead with its 7nm process and continues to expand its R&D budget, which accounted for 8 percent of its revenue in 2018 and is said to have increased to 8.6 percent in 2019, according to the report.

TSMC recently started construction of the $19.5 fab in which it will manufacture the 3nm chips when it starts production in 2023.