Samsung to invest 17,000 million in the construction of a chip manufacturing plant in Texas

Samsung you have selected a location in the US state of Texas, Taylor, for build a chip manufacturing plant. The South Korean company, according to the Wall Street Journal, will invest about 17,000 million dollars in the construction of the factory, amount that will take out of the 205,000 million that it has in funds destined for investment over the next three years.

According to information provided by Samsung to the Texas authorities, the factory will create about 1,800 jobs when it begins chip production, which is slated to occur throughout 2024. The City of Taylor is offering significant tax incentives to Samsung, making it easier to choose for the local plant and build it outside of Austin, also in Texas, a city where Samsung has already had a chip factory in operation for several years.

Among these facilities are property tax exemptions that could reach 92.5% in the first years, and which will gradually decline over the following decades. However, according to a company spokesman, they have not yet made a final decision on the choice of the town, although the Governor of Texas, Greg Abbott, may officially announce the construction of the factory this week.

This news comes amid a global chip shortage crisis that is affecting many sectors in addition to technology. For this reason, many technology companies have developed plans to increase their manufacturing capacity, in the case of those already dedicated to it, and even to manufacture their own chips, in the case of those that have not done so until now. So Samsung is not the only one going to expand its capacity. TSMC is going to do it in Japan, for example, but also in Taiwan and Arizona (USA).

Intel is also going to do it, and has also announced an investment program that will spend about $ 100 billion to increase chip manufacturing capacity over the next 10 years. TSMC is going to invest roughly the same, but instead of in ten years, in three. As for Samsung, in addition to raising this plant there is rumors that you want to develop your own custom chip designs within the company, for which it would have been recruiting engineers who previously worked for Apple and AMD.

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