Samsung will create 2,000 jobs in Texas and invest in a $17 billion chip factory

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The South Korean electronics giant announced on Tuesday that it has made its largest investment in history in the United States. The plant will directly create 2,000 high-tech jobs. Once fully operational, it will create thousands of jobs for the local economy.The facility is expected to start operations in the second half of 2024

“With greater manufacturing capabilities, we will be able to better meet customer needs and contribute to the stability of the global semiconductor supply chain,” Samsung Electronics Vice Chairman and CEO Kinam Kim said in a statement.

The company said that it chose Taylor, Texas as its new plant based on a variety of factors, including its proximity to Samsung’s current manufacturing base in Austin, the local semiconductor ecosystem, and government support.

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The Taylor factory occupies more than 5 million square meters and is expected to become a key location for Samsung’s global semiconductor manufacturing capabilities, as well as its latest new production line in Pyeongtaek, South Korea.

Samsung’s announcement comes as the Biden administration has been promoting semiconductor production and research in the United States.

Although currently The global shortage of computer chips is mainly caused by factors such as the impact of the epidemic and extreme weather events that affect production. The United States has been lagging behind others. Producer for many years.

According to data from the Semiconductor Industry Association, its share of global semiconductor manufacturing fell to only 12% last year. This is down from 37% in 1990. The trade organization accused foreign governments of providing “large” subsidies that put the United States at a “competitive disadvantage.”

Asian countries including Taiwan and South Korea dominate the industry. Samsung and other Korean manufacturers are spending huge sums of money to support production in the next ten years.
In May, Samsung said It will invest 38 trillion won ($34 billion) in the production of logic chips, the brains that power computers. This brings its total business expenditure to more than 171 trillion won (US$151 billion) The next ten years, including the commitments announced in 2019.

The chip maker also announced in May It has begun construction of a production line in Pyeongtaek (one of the largest semiconductor production centers in the world) and is expected to be completed in 2022.

— Matt Egan and Diksha Madhok contributed to this report.



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