Samsung may build $17 billion chip plant in Texas
Samsung has been searching for a prime location to set up a new multi-billion-dollar chip production plant for a while now, and it's most certainly happening in the United States. The company already has one semiconductor chip foundry in th U.S., based in Austin, Texas.
The Korean tech giant has already been reported to be considering Florida, Arizona, Austin, and even New York at different times for the new project, but Samsung didn't end up sticking to any of those locations for the 17-billion plant.
Now, we seem to have evidence that Samsung's most recent target location falls in Taylor, Texas, according to a report by The Wall Street Journal. While nothing has been set in stone, the city has already been offering the company powerful incentives in terms of tax breaks. And we're talking huge tax breaks—namely 92.5% for the first decade, which will slowly decrease over time after that.
When interviewed, a Samsung spokeswoman said that “A final decision has not yet been made regarding the location." Samsung had chosen Williamson County in Austin, Texas, for its first chip plant for the stable water and electricity sources available there, as well as similar financial incentives on offer.
And having already considered Austin once more previously for its second plant, it seems reasonable to say that Samsung definitely seems rather inclined to begin construction in Texas. The Texan Governor, Greg Abbott, is already expected to make a big "economic announcement" at an event today (November 23), at 5PM local time—reinforcing people's suspicions that it will be about Samsung's new chip plant.
The company has already confirmed to state officials that the new project will create about 1,800 jobs in the area, and plans to begin eking out chips in 2024 at the latest, once the location is chosen. We'll update the article if tonight's announcement in Texas does bring news of an official location for Samsung's second U.S.-based chip foundry.
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