Founded in 1993, Tower Semiconductor acquired National Semiconductor's 150mm wafer manufacturing plant in Migdal Haemek, Israel. Tower became a listed company in 1994. In 2001, the 200mm factory Fab 2 was built with Fab 1.

In 2008, Tower acquired Jazz Semiconductor’s 200mm plant (Fab 3), which increased global production capacity, provides a more complete technology portfolio, a larger customer base and a stronger financial foundation.

In 2014, TowerJazz completed a joint venture with Panasonic, enabling TowerJazz to provide customers with 300mm technology, including dark current and quantum efficiency performance of 65nm CMOS image sensors, as well as other 45nm digital technologies, adding about 800,000 wafers available capacity per year. Three manufacturing plants in Japan (equivalent to 8 inches).

To meet the company's strong customer needs and achieve greater manufacturing flexibility, TowerJazz economically increased production every month by acquiring Maxim Integrated's 8-inch wafer factory in San Antonio, Texas, USA in 2016. About 28,000 wafers.