Samsung and the feds make a big bet on Texas

The semiconductor maker recently doubled its planned investment in a fabrication facility in Taylor, just north of Austin. The Biden administration is chipping in $6.7 billion in incentives.

By Shelly BrisbinApril 11, 2024 1:55 pm,

In 2021, Samsung announced a $17 billion chip fabrication plant in Taylor, Texas, 35 miles north of Austin. And just last month, the company unveiled plans to double its investment in the Central Texas facility.

This week, the Biden administration announced that Samsung would receive more than $6 billion for the project from the federal CHIPS Act.

Tech expert Omar Gallaga says it’s all part of a push to make the U.S. more competitive with China in the development of semiconductor technology.

Highlights from this segment:

Samsung’s plans now call for four Texas facilities, including two chip fabrication plants, a research and development office, and a packaging plant. The total expenditures in Texas amount to $44 billion.

– Some 9,000 jobs are expected to be created, thanks to Samsung’s construction, with 2,000 permanent jobs planned once the plants are completed.

– The federal subsidies to Samsung, announced this week, amounts to $6.6 billion.

– State CHIPS funding is also in the mix, supporting partnerships between the University of Texas at Austin and Austin Community College to train workers for jobs in the semiconductor industry. 

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