Samsung will build a $ 17 billion semiconductor factory in Texas

Samsung has pledged to build a chip factory in Texas, just as the United States is beginning to push for the expansion of semiconductor production in the country. The Korean technology giant will invest $ 17 billion in the new plant, which will produce high-end and advanced chips for smartphones, 5G and artificial intelligence, among other applications. According to The Wall Street Journal, the beginning of the construction of the factory is planned for next year, while the production within the facility is expected in the second half of 2024.

The U.S. government is taking steps to boost U.S. semiconductor production, following a global chip shortage caused by closed plants and high demand for PCs and other devices during the pandemic. This problem continues to have a huge impact on all industries – just this year, carmakers like GM and Ford have had to suspend or reduce production in their U.S. factories due to supply constraints.

Samsung was looking for locations in Arizona, New York and Florida for the new project, and it was also considering Austin, where it has an existing factory. She finally chose Taylor, Texas, for this new facility because of the generous tax breaks and incentives it offered, as well as the city’s ability to operate continuous outages and provide electricity to certain facilities in the event of a power outage.

Kim Ki-nam, CEO of Samsung Electronics Device Solutions Division, said in a statement:

“By adding a new plant in Taylor, Samsung is laying the groundwork for another important chapter in our future. With greater production capacity, we will be able to better serve our customers’ needs 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. ”

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