Samsung, which is among the leading chipset manufacturers, is gearing up to set up its new chip production plant in the United States. For that, the South Korean giant had shortlisted two potential locations.
Now, the company has officially confirmed that it has chosen a site close to the city of Tylor in Texas for its new chip manufacturing plant. For this, Samsung will be making an investment of $17 billion — its biggest-ever in the United States.
The plant is expected to create some 2,000 technology industry jobs, with construction starting early next year. It is expected to be operational by the second half of 2024.
Kinam Kim, chief executive of Samsung electronics device solutions said: “With greater manufacturing capacity, we will be able to better serve the needs of our customers and contribute to the stability of the global semiconductor supply chain.”
It has also been announced from the governor’s office that the company would get a $27 million grant for creating jobs in the state. Samsung is one of the world’s largest manufacturers of chips with more than 20,000 employees across the US.
The new chips made at this new Texas facility will be used in a range of technologies and devices, including mobile phones, 5G, high-performance computing, and artificial intelligence, among others.
Earlier, a proposed resolution posted on the Taylor city’s website showed that for the land Samsung will use, it is set to be offered a grant equivalent to 92.5% of assessed property tax for 10 years, 90% for the following 10 years, and then 85% in the 10 years after that.
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