Samsung to build $17B semiconductor chip plant in Texas

FILE - The logo of the Samsung Electronics Co. is seen at its shop in Seoul, South Korea, Tuesday, July 7, 2020. (AP Photo/Ahn Young-joon, File)

FILE - The logo of the Samsung Electronics Co. is seen at its shop in Seoul, South Korea, Tuesday, July 7, 2020. (AP Photo/Ahn Young-joon, File)

FILE – The logo of the Samsung Electronics Co. is seen at its shop in Seoul, South Korea, Tuesday, July 7, 2020. (AP Photo/Ahn Young-joon, File)

SRDTF News
UPDATED 8:14 AM PT – Friday, November 26, 2021

Samsung announces plans to build a large semi-conductor chip factory in Texas. The South Korean tech giant announced plans to erect the $17 billion plant in Taylor, Texas on Tuesday to open in the second half of 2024.

The company said the creation of the factory would directly offer 2,000 jobs for local Texans directly and thousands more for the community soon after. Proponents of the move assert it will positively affect supply shortages in semi-conductors faced worldwide.

“The implications of this facility extend far beyond the boundaries of Texas; it’s going to impact the entire world,” stated Republican Gov. Greg Abbott. “As you all know, we face a global shortage of semiconductor chips and I want you to know that Texas is working with Samsung to provide long term solutions for the world’s growing chip shortage.”

The impact of pandemic lockdowns as well as more favorable competitive advantages and tax incentives in other countries has led to a manufacturing slump over the past decade in the U.S.

MORE NEWS: Bail Reform Movement Questioned Amid Wis. Parade Incident

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x
SRDTF News
Logo