Industrial buildings are typically built at dock height. Even if they don't do any grading, that would put the building well above any plausible flooding in that area.

My point is that we really don't know what "plausible" is anymore with these storms. That much is clear in the data. It seems silly to be so close to a flood zone with your very expensive DUV/EUV machines. There are probably other places they could have placed this facility.

It also turns out that for insurance purposes you are allowed to use infill to get the corner of a property that's below the high water mark above it. At least in some states.

Some of the calculus is not about if it will flood it's about if you'll lose your investment if it floods. If an underwriter is willing to cover it, you might go for it anyway.