Samsung plans to build a $17 billion chip factory in Austin

Samsung Electronics plans to build a new chip-making plant and is considering Austin, Texas, as the site of a $17 billion factory that the company says will create 1,800 new jobs. Note that in evaluating the selection of the site, it takes into account several things, the most important of which are its ability to access talents, the appropriate ecosystem for the manufacture of segments, and the speed in reaching the market.

Samsung is seeking combined tax cuts of up to $806 million over 20 years from Travis County and the city of Austin, and said that if Austin is selected, the company will begin work at the site in the second quarter of this year and the plant will be operational in the third quarter of 2023.

Samsung’s chip maker contracts include big US customers such as Tesla, Qualcomm and Nvidia, and plans to make the smallest and fastest computer chips for them. It is worth noting that the company already owns a chip factory in Austin.

Although Intel makes similar chips for it in the US, the manufacturers it contracts with are outside the country, such as TSMC in Taiwan and Samsung in Korea.

TSMC, whose main customer is Apple, revealed last year plans to build a $12 billion chip factory in Arizona that is expected to start operating in 2024.

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