In 2022, President Biden signed the CHIPS and Science Act, a bipartisan law aimed at strengthening the United States’ semiconductor industry. This legislation has led to a $6.4 billion preliminary deal, the most recent agreement made possible by the act. Samsung is expected to invest over $40 billion in the Texas region in the coming years to establish new facilities in Taylor and Austin.
The Biden administration stated that this deal would result in the creation of over 20,000 jobs in construction and manufacturing roles. The president emphasized that this announcement would solidify central Texas as a state-of-the-art semiconductor hub and result in significant investment from Samsung. It is estimated that at least 21,500 jobs will be created, with up to $40 million in CHIPS funding going towards training and developing the local workforce.
The facilities in Austin will focus on producing some of the most powerful chips in the world, crucial for advanced technologies like artificial intelligence and strengthening U.S. national security. The expansion of existing facilities in Austin will support the production of chip technology for industries such as aerospace, defense, and automotive.
Samsung’s investments in Taylor 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.
For more details on this exciting development, read TheHill.com’s full report on this topic.