Original title: spend $17 billion! Samsung plans to build a chip factory in the United States and is expected to be put into operation in 2024
South Korean technology giant Samsung Electronics plans to spend about $17 billion to build a large chip manufacturing plant in Texas.
Samsung plans to build a new advanced chip manufacturing plant in Taylor, Texas, which is estimated to cost about $17 billion. Texas governor Greg Abbott said at a press conference announcing the plan that the project will create more than 2000 jobs. But chip production is not expected to start until the end of 2024.
It is reported that the new factory will be located in Taylor City, about 30 miles from Austin, where Samsung has an existing factory. The new plant area is about 1200 acres, larger than Samsung's plant in Austin.
In order to attract Samsung, Taylor city officials provided a series of incentives, including property tax relief of 92.5% in the first 10 years, which gradually decreased in the next few decades.
As the global supply chain is reshaped, the Biden administration is trying to attract advanced manufacturing, especially semiconductor production, back to the United States.
In February this year, Biden signed an executive order to solve the global shortage of semiconductor chips.
In July, the Biden administration announced the establishment of a "supply chain interruption working group" to focus on semiconductors and other fields.
This year's semiconductor shortage has caused great damage to American chip manufacturers. The problem is that although American semiconductor companies account for 47% of global chip sales, only 12% of production is completed in the United States. In the 1990s, the United States accounted for 37% of global output.