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Samsung may increase investment in the US: from $17 billion to $184 billion

Samsung may increase investment in the US: from $17 billion to $184 billion

On July 20, the state of Texas released documents showing Samsung wants to add nine more factories to Austin Semiconductor Taylor.

Samsung has applied for tax incentives for the planned plants. If approved, Samsung’s investment in Taylor could increase to $184.6 billion from an originally planned $17 billion. The company will create 8,200 jobs instead of the announced 1,800 jobs. The Korean manufacturer asserts in its filing that tax incentives were a key factor in its investment in Taylor, without which the company would not have found the project in Texas.

Samsung Electronics announced in November last year that it would choose Taylor as a new US $17 billion investment location. The company has already started construction work to build a factory to manufacture integrated circuits with advanced process technologies for applications in areas such as mobility, 5G, high performance computing (HPC) and artificial intelligence (AI). The facility will start operating in 2024, but the investment will continue for another two years. This will be the second factory Samsung Chips in Texas allows the plants to share resources and infrastructure with the nearby Austin plant.

Subsequent plants will start production in 2034-2042, subject to investment in additional factories.

What the construction site looked like in May 2022, © Taylor, TX.

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