Samsung officially announced that it will be opening a new semiconductor fabrication site in the city of Taylor, Texas. The new plant is expected to cost the Korean electronics brand an estimated US$17 billion (~RM71 billion) and create as many as 1800 new jobs, both for residents in and out of the city.
Samsung’s decision to open up a new factory in Taylor specifically; as part of the Biden administration’s recently approved US$52 billion (~RM218 billion) in subsidies for chipmaking plants, building the plant in the city of Texas also means that the Korean tech giant gets over 90% in tax breaks for the first 10 years.
As for what it will make, Samsung says that the plant will make manufacturing products based on advanced process technologies, which is just a fancy way of saying that it will produce components for mobile, 5G, HPC and AI applications.
It goes without saying that Samsung isn’t the first non-US company to build a factory in the country. Last year, TSMC, the Taiwanese semiconductor company, announced that it would build and open up a new chip plant in the state of Arizona, to the sum of US$3.5 billion (~RM14.73 billion).
(Source: Samsung, The Verge, Bloomberg)
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