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.
Thrilled to hear Samsung has officially selected Taylor as the location for its new plant. Companies continue relocating to and building new facilities in Texas because they know the Lone Star State will always stand for free enterprise and less bureaucracy.
— Senator Ted Cruz (@SenTedCruz) November 23, 2021
“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.”
Welcome to Texas, Samsung!
Samsung will build a new semiconductor manufacturing facility in Taylor, Texas.
➡️ $17B capital investment
➡️ Thousands of NEW jobs
The largest foreign direct investment in the state of Texas EVER. pic.twitter.com/a7VhbK3B9Q
— Greg Abbott (@GregAbbott_TX) November 24, 2021
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.