The latest agreement made through the CHIPS and Science Act, a bipartisan law signed by President Biden in 2022, is a $6.4 billion preliminary deal. Samsung is planning to invest over $40 billion in Texas, specifically in the regions of Taylor and Austin, over the next few years to establish new facilities. The Biden administration expects this deal to create more than 20,000 jobs, including positions in construction and manufacturing.
President Biden expressed that this investment from Samsung will exceed $40 billion and solidify central Texas as a cutting-edge semiconductor hub, resulting in at least 21,500 new jobs. The facilities will produce powerful chips vital for advanced technologies such as artificial intelligence, enhancing U.S. national security. In Austin, the existing facility will be expanded to support the manufacturing of chip technology used in industries like aerospace, defense, and automotive.
On the other hand, the investments in Taylor will facilitate the construction of an advanced manufacturing system enabling Samsung to produce state-of-the-art chips and conduct advanced packaging research and development. The semiconductors manufactured in Taylor will be utilized in industries such as communications, automotive, and defense. This deal marks a significant step in bolstering the semiconductor industry in the United States and ensuring economic growth in the region.