Only a small fraction of that $17B would be spent on building the plant and hiring workers (1800 jobs is what I've read). Most is for the extremely expensive equipment used to produce the chips and that will be bought and shipped in from elsewhere.
That would mean that schools in richer areas with higher property values got more funding?
Still, there is a clear economic benefit from such a move closer to home, even in times of peace and predictability. The US economy is all about outsourcing the basement and keeping the penthouse. But the hosts of our outsourced industry can "tech up," so to speak. If we let Asia-Pacific totally dominate the semiconductor fabrication industry, it's only a matter of time before they dominate the semiconductor design industry as well.
Second, even the 1800 jobs, say 100k avg - 180M a year vs 42M reduced taxable profits?
Apart from that, sure, you have huge equipment costs, where they come from now means its an opportunity for local companies to get in the supply chain.
I'm not sure what you are implying but this seems like a win anyway.
It's also interesting to see companies investing in the US, it means there are opportunities long term and US hasnt lost the chip sector.