You are not wrong, but having access to people with right experience and companies that supply the products and services for chip manufacture chips is more important. Seismic stability is another benefit.

They have to spend more on recycling and cleaning the water than in other places. In 2020 Intel cleaned up and returned 95 percent of the freshwater it used in Arizona. They have their own water treatment plats and public-private partnerships for water purification that purify Intel’s wastewater back to drinking standard.

https://download.intel.com/newsroom/2021/manufacturing/Intel...