Samsung Is Building a Chip Factory in Texas for $17 Billion USD
Aiming to open the facility in the second half of 2024.
Amid the ongoing global chip shortage, Samsung has announced plans on Tuesday to build a $17 billion USD semiconductor factory in Taylor, Texas over the next three years.
The company already manufactures chips at other locations throughout the country, including one nearby in Austin. This new site, however, will measure more than 5 million square meters, making it the investment Samsung has ever made in the United States.
Construction is expected to begin in 2022 to have the facility completed sometime in the second half of 2024.
“As we add a new facility in Taylor, Samsung is laying the groundwork for another important chapter in our future,” said Kinam Kim, Vice Chairman and CEO of Samsung’s Electronics Device Solutions Division.
“With greater manufacturing capacity, we will be able to better serve the needs of our customers and contribute to the stability of the global semiconductor supply chain.”
In addition to its new production line in South Korea, where the company is based, Samsung aims to have the Texas factory serve as a key location to expand its global chip manufacturing capacity.
Samsung estimated that the facility would create over 2,000 high-tech jobs immediately, as well as thousands of related jobs once it’s in operation.
In other tech news, Apple delayed its digital driver’s license.
