Recently Samsung revealed that it will establish a $17 billion semiconductor factory just within the outskirts of Austin, Texas, to better combat the worldwide shortage of microchips that are used for phones, cars, and other such technologies.
"This is the largest foreign direct investment in the state of Texas, ever," Texas Governor Greg Abbott stated as he revealed further details about the project this past Tuesday. Samsung has stated that it will begin building the plant within the next year, and that it intends to start operating in the latter part of 2024.
The new plant will be set up in the city of Taylor, which is approximately 30 miles from Austin. It has a size of about 1,200 acres. The choice to invest in Taylor as a possible manufacturing site was based on many different variables, some of which were: the local semiconductor ecosystem, infrastructure stability, local government support, and community development opportunities.
In the long run, Samsung intends to start utilizing the plant in order to make processors, for purposes of usage for itself as well as for other company products. It will also offer many opportunities for advancement, since it will make room for over 2,000 high-tech jobs, as well as thousands of relevant jobs, as soon as the plant becomes fully operational.
"We are also proud to be bringing more jobs and supporting the training and talent development for local communities, as Samsung celebrates 25 years of semiconductor manufacturing in the U.S.," Kinam Kim, Vice Chairman and CEO of Samsung Electronics Device Solutions Division, said in a press statement.
Samsung's creation of its $17 billion semiconductor factory will surely enable it to bring about a variety of opportunities that it had not before. It will make room for further chances for employment, as well as advancement of company products.