Samsung to invest $17 billion in new Texas fab
South Korean electronics giant, Samsung, has chosen Taylor, Texas to build a new, USD 17 billion, semiconductor manufacturing facility.
The estimated USD 17 billion investment aims to help boost production of advanced logic semiconductor solutions that power next-generation innovations and technologies. The new facility will manufacture products based on advanced process technologies for application in areas such as mobile, 5G, high-performance computing (HPC) and artificial intelligence (AI). “As we add a new facility in Taylor, Samsung is laying the groundwork for another important chapter in our future,” says Kinam Kim, Vice Chairman and CEO, Samsung Electronics Device Solutions Division, in a press release. “With greater manufacturing capacity, we will be able to better serve the needs of our customers and contribute to the stability of the global semiconductor supply chain.” The company says it will break ground on the new fab during the first half of 2022 with the goal of having the facility up and running in the second half of 2024. The Taylor site will span more than 5 million square metres and the company says that it expects it to serve as a key location for the company's global semiconductor manufacturing capacity along with its latest new production line in Pyeongtaek, South Korea. This total investment value of this new venture is set to reach USD 17 billion, including buildings, property improvements, machinery and equipment, will mark the largest-ever investment made by Samsung in the U.S. “Companies like Samsung continue to invest in Texas because of our world-class business climate and exceptional workforce,” says Governor Abbott. “Samsung’s new semiconductor manufacturing facility in Taylor will bring countless opportunities for hardworking Central Texans and their families and will play a major role in our state’s continued exceptionalism in the semiconductor industry. I look forward to expanding our partnership to keep the Lone Star State a leader in advanced technology and a dynamic economic powerhouse.” With the new fab Samsung is expected to create 2,000 high-tech jobs directly and thousands of related jobs once the new facility is in full operation.