The nationally backed effort to revive Japan’s semiconductor industry with Rapidus, a new firm that plans to mass produce 2-nanometer chips, has been called Hokkaido’s largest-ever development project — one that will revive the local economy and create new jobs and industry.

But underneath the ambitious future plans and official proclamations of confidence, there is a mixture of hope and concern locally about what will happen to Hokkaido if Rapidus fails to deliver as promised.

At a Sept. 1 groundbreaking ceremony in Chitose, Rapidus President Atsuyoshi Koike hinted that the very name of the city the new firm was located in symbolized an unprecedented opportunity for both Japan and Hokkaido.