The Korean Electronics firm offers a vast range of home electronics with cutting-edge technology, including smartphones, tablets, TVs, and many more. Now it is planning to expand its investment in its latest Texas semiconductor creation to roughly $44 billion.
Samsung is considerably increasing their investment in a new semiconductor hub being built in Taylor; this has been speculated since the Wall Street Journal revealed this. Now the report is saying that in Taylor, where the new semiconductor hub is being built, the funding is expected to go toward building the new chip-making factory and facility for advanced packaging, as well as research and development.
As per the Wall Street Journal, the Korean firm was expected to receive billions of dollars in subsidies from the U.S. Chips Act. It has also come to light that the new investment would add to the $17 billion the brand has already put into a chipset-making plant. Keep records in mind, so it is expected that the plant will start mass production of chips by this summer.
Although this plant will open doors to new jobs, it will create at least nearly 10,000 new jobs. Back in February, a Williamson County judge announced that the Samsung plant in Taylor would start operations by July 1 after reports that the plant would not start mass production until 2025. Regarding this, a couple of years ago, state leaders announced the project would come to Williamson County. At that moment, Gov. Greg Abbott stated that the facility would create more than 2,000 tech jobs, thousands of indirect jobs, as well as a minimum of 6,500 construction jobs.
