December 3, 2021
Texas Gov. Abbott, Samsung announce $17B chip factory coming to Taylor

Texas Gov. Abbott, Samsung announce $17B chip factory coming to Taylor

Texas Gov. Greg Abbott and Samsung Electronics Co. introduced Tuesday that the South Korean tech behemoth will construct a $17 billion semiconductor factory in Taylor, Texas.

“That is the most important international direct funding within the state of Texas ever,” Abbott stated throughout a information convention, the place he was flanked by Sen. John Cornyn, R-Texas, and Samsung Electronics System Options Division Vice Chairman and CEO Dr. Kinam Kim.

Dr. Kim stated on the presser that Samsung expects to create greater than 2,000 high-tech jobs immediately with the forthcoming facility in Taylor, and 1000’s extra associated to the plant as soon as it’s totally operational.

The chip-making factory coming to Taylor may even be the most important investment made by Samsung within the U.S., the corporate stated in a information launch, bringing the agency’s “total investment in the U.S. to more than $47 billion since beginning operations in the country in 1978.”

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“Samsung Austin Semiconductor has been proud to call Texas home for more than 25 years,” Samsung Austin Semiconductor president Dr. Sang Sup Jeong stated in a press release. “We are excited about our growth and future opportunities in Central Texas and appreciate the support from all Central Texas leaders.”

Samsung
Ticker Safety Final Change Change %
SSNLF SAMSUNG ELECTRONICS CO., LTD. 57.75 +57.38 +15,382.41%

Though Samsung just isn’t new to Texas, the corporate stated that a number of U.S. places had been thought of as potential websites for the brand new semiconductor plant. 

“Companies like Samsung continue to invest in Texas because of our world-class business climate and exceptional workforce,” Abbott stated in a separate assertion. “Samsung’s new semiconductor manufacturing facility in Taylor will bring countless opportunities for hardworking Central Texans and their families and will play a major role in our state’s continued exceptionalism in the semiconductor industry.”

chip semiconductor

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He added, “I look forward to expanding our partnership to keep the Lone Star State a leader in advanced technology and a dynamic economic powerhouse.” 

The funding comes amid widespread chip shortages throughout the globe, and Abbott says the brand new deal is not going to solely assist Texas but in addition the remainder of the world.

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