Samsung will build a $17 billion semiconductor factory in Taylor, Texas — marking the largest foreign direct investment in the state’s history.
The investment comes as a global computer chip shortage threatens American businesses, especially in the automobile industry.
A statement from the office of Gov. Greg Abbott (R-TX) says that Samsung chose the Lone Star State due to its business-friendly climate:
The new manufacturing facility will produce advanced logic chips that will power next-generation devices for applications such as mobile, 5G, high-performance computing (HPC), and artificial intelligence (AI).
The project will create over 2,000 high-tech jobs, thousands of indirect jobs, and a minimum of 6,500 construction jobs. Construction will begin in early 2022 with a target of production start in the second half of 2024. The $17 billion