A $6.4 billion preliminary deal has been struck between Samsung and the CHIPS and Science Act, a bipartisan law signed by President Biden in 2022. As a result, Samsung is expected to invest over $40 billion in the Texas region in the coming years to establish new facilities in Taylor and Austin.
The Biden administration stated that this deal will create over 20,000 jobs in construction and manufacturing roles, with up to $40 million in CHIPS funding going towards training and developing the local workforce. President Biden emphasized that this investment would solidify central Texas as a state-of-the-art semiconductor hub.
In Austin, Samsung’s facilities will focus on producing some of the most powerful chips in the world, crucial for advanced technologies like artificial intelligence and national security. The expansion of existing facilities in Austin will support the production of chip technology for industries such as aerospace, defense, and automotive.
Samsung’s investments in Taylor will enable the construction of an advanced manufacturing system for creating cutting-edge chips and for research and development in advanced packaging. The semiconductors produced in Taylor will be utilized in industries like communications, automotive, and defense.
For more details on this exciting development, you can read the full report on TheHill.com.