Samsung Plans $17 Billion Texas Chip Plant, Creating 2,000 Jobs

Nov. 24, 2021, 1:02 AM

Samsung Electronics Co. outlined plans for a $17 billion U.S. semiconductor plant that will add more than 2,000 jobs, widen the South Korean giant’s foothold in Texas, and bolster its role as a vital supplier in the global manufacturing supply chain.

“Increasing domestic production of semiconductor chips is critical for our national and economic security,” U.S. Commerce Secretary Gina Raimondo said in a statement Tuesday lauding the deal. White House officials also said they welcomed the investment, saying in a statement that it would help “protect our supply chains” and boost domestic manufacturing.

WATCH: Samsung Electronics Co. Ltd. has unveiled plans to invest $17 billion in a new chip plant in Texas. Bloomberg’s Sohee Kim reports.
Source: Bloomberg

The project will create more than ...

To read the full article log in.

Learn more about a Bloomberg Tax subscription.