Korean tech giant Samsung recently announced that it plans to invest around $ 17 billion to build a semiconductor manufacturing plant in Taylor, Texas. The plant will be Samsung’s largest investment in the United States and, according to Governor Greg Abbott, “the largest foreign direct investment ever made in the state of Texas.”
The the Wall Street newspaper reports that on Tuesday, Samsung announced plans to invest around $ 17 billion in a semiconductor manufacturing plant in Taylor, Texas. This is the latest chip-making commitment this year amid a global chip shortage. Governor Greg Abbott (right) called the plan “the biggest foreign direct investment ever in the state of Texas,” speaking at a press conference with Samsung officials.
Samsung said the plant would be the company’s biggest U.S. investment and would be used primarily to produce high-end chips used in smartphones and other devices, likely employing 2,000 Texans in high-tech jobs. Construction of the facility is expected to start next year, and the first chips are expected to be manufactured at the plant in the second half of 2024.
“As we add a new facility to Taylor, Samsung is laying the groundwork for another important chapter in our future,” said Kinam Kim, vice president and CEO of Samsung Electronics Device Solutions. “With greater manufacturing capacity, we will be able to better meet the needs of our customers and contribute to the stability of the global semiconductor supply chain. “
“We are also proud to create more jobs and support training and talent development for local communities as Samsung celebrates 25 years of semiconductor manufacturing in the United States,” Kim said.
The demand for chips has increased dramatically in recent years, mainly due to the massive adoption of digital tools during the pandemic, the roll-out of 5G communication networks, and the increased manufacture of 5G-enabled devices.
Breitbart News recently reported that another major chipmaker, Intel, has seen some setbacks in recent years, but unveiled a plan to revitalize chipmaking in the United States.
Along with major upgrades to existing manufacturing facilities, the chip giant is planning a major new facility in Arizona. In the near future, the company will announce the location of a $ 100 billion manufacturing complex with the goal of bringing US chip manufacturing to 30% of global production.
Learn more about Samsung’s new factory at the Wall Street newspaper here.
Lucas Nolan is a reporter for Breitbart News and covers issues of free speech and online censorship. Follow him on twitter @LucasNolan or contact by secure email at firstname.lastname@example.org