Samsung plans to invest approximately $ 17 billion to build a semiconductor manufacturing facility in Taylor, Texas amid a global shortage of chips used in phones, cars and other electronic devices. This is Samsung’s largest investment ever in the US and will improve the supply chain strength of critical logic chips.
The investment will bring the South Korean company’s total commitment in the United States to more than $ 47 billion since it began operations in the country in 1978. The company, which now has more than 20,000 employees across the country, noted that the The new manufacturing facility will produce advanced logic chips that will power next-generation devices for applications such as mobile telephony, 5G, high-performance computing and artificial intelligence. Taylor’s site will span more than 5 million square meters.
The chip plant will create more than 2,000 high-tech jobs, thousands of indirect jobs and a minimum of 6,500 construction jobs. Construction will begin in early 2022 with the aim of starting production in the second half of 2024. The $ 17 billion in capital investment includes buildings, property improvements, machinery and equipment. A $ 27 million Texas Enterprise Fund grant was extended to Samsung for job creation.