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23 Nov 2021

$17 Billion Chip-Making Site of Samsung to be Located in Taylor, Texas

$17 Billion Chip-Making Site of Samsung to be Located in Taylor, Texas

The Index Today

Samsung Electronics Co. has confirmed Taylor, Texas to be the location for building its $17 billion chip-making plant. The large-sized investment comes as the President pushes for semiconductor manufacturing in the U.S.

The location is based in central Texas and will create over 1,800 jobs through its production processes. However, production is not expected to start anytime soon and may begin by the end of 2024. Taylor, Texas, has given Samsung various incentives such as property tax relief up to 92.5% for the first 10 years. Samsung aims to manufacture semiconductors and invest around $205 billion in the course of three years.

Intel Corporation has also announced plans to locate semiconductor and chip manufacturing units in the U.S and invest over $100 billion. The Biden Administration has been pushing for locally manufactured chips to eliminate foreign-reliance. Currently, the U.S only accounts for 12% of production capacity for semiconductors whereas previously it had around 37%. In the past decades, countries including Taiwan, China and South Korea took the lead in chip manufacturing.

Other locations being considered by Samsung included Arizona, New York and Florida. Austin Texas was also an option for the tech giant where it has previously established chip making units. The town of Taylor has a population of around 16,000 and is close to Austin. The manufacturing site consists of 1,200 acres. Samsung’s decision to base its manufacturing unit comes as a goal for Texas after it announced to turn the state into a tech hub.

©Photo: news.samsung