As the Biden administration declared the U.S. chip supply as a priority, South Korea’s Samsung Electronics announced more details about building an advanced semiconductor plant in the U.S. Documents submitted by the company to the Texas state government show that Samsung plans to invest about $17 billion.
Bloomberg reported that according to an economic impact study prepared by local consultant Impact DataSource, Samsung plans to invest approximately $17 billion in the project called “Project Silicon Silver,” including $5.1 billion in buildings and real estate of which $5.1 billion will be invested in buildings and real estate renovations and $9.9 billion in machinery and equipment; 1,800 jobs will be created in the first decade.
According to the document, Samsung’s Austin, Texas facility will be expanded by approximately 7 million square feet and an estimated 542 new employees will move to the city; Samsung has been operating there for decades.
The document says, “Because of its strong ties to the local community and its successful manufacturing experience in Texas over the past 25 years, Samsung will likely continue to invest in the city and state.”
The report also cautioned the Texas government that the chip plan is “hot,” and that Samsung is evaluating alternative sites such as Arizona and New York State, or a plant in South Korea.
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