The $6.4 billion preliminary deal made possible by the CHIPS and Science Act is a significant milestone in the ongoing efforts to strengthen the U.S. semiconductor industry. Samsung, one of the world’s largest technology companies, has announced plans to invest over $40 billion in Texas in the coming years to establish new facilities in Taylor and Austin.
This investment is expected to create over 20,000 jobs in construction and manufacturing roles, according to the Biden administration. President Biden emphasized that this announcement would result in a significant investment from Samsung and solidify central Texas as a state-of-the-art semiconductor hub.
Samsung’s expansion of its existing facilities in Austin will support the production of some of the most powerful chips in the world, crucial for advanced technologies like artificial intelligence and strengthening U.S. national security. The facilities will also contribute significantly to industries such as aerospace, defense, and automotive.
In Taylor, Samsung’s investments will enable the construction of an advanced manufacturing system for creating cutting-edge chips and for research and development in advanced packaging. The semiconductors produced in Taylor will be utilized in industries like communications, automotive, and defense, according to the Biden administration.
The Biden administration stated that this deal is anticipated to create at least 21,500 jobs with up to $40 million in CHIPS funding going towards training and developing the local workforce. This agreement represents a major victory for advocates of domestic semiconductor manufacturing who have long argued that it is essential for national security and economic competitiveness.