Samsung has announced that it will spend $17 billion to build a new factory in Taylor, Texas to boost the production of advanced semiconductors. The Korean firm expects groundbreaking to begin in the first half of 2022 and hopes to have the factory operational sometime in the second half of 2024. It said that the 5 million square meter factory will serve as a key location for semiconductor manufacture along with its factory in Pyeongtaek, South Korea.
Commenting on the news, Kinam Kim, Vice Chairman and CEO of Samsung Electronics Device Solutions Division, said:
“As we add a new facility in Taylor, Samsung is laying the groundwork for another important chapter in our future. With greater manufacturing capacity, we will be able to better serve the needs of our customers and contribute to the stability of the global semiconductor supply chain.”
In terms of the goods it will be producing, Samsung said the facility will build products in the mobile, 5G, high-performance computing (HPC), and artificial intelligence (AI) categories. It said the investment is its largest ever in the United States and will cover things like buildings, property improvements, machinery, and equipment.
Samsung said its reasons for picking Taylor were multiple. It said the area had a local semiconductor ecosystem, it has infrastructure stability, local government has offered financial support in the form of tax breaks, and there are community development opportunities. Additionally, Samsung has a factory in Austin, Texas just 25 kilometers from the chosen site meaning they can share infrastructure and resources more easily.
The approval of the factory will create more than 2,000 high-tech jobs directly and thousands more related jobs. In addition, Samsung is contributing financial support to create the Samsung Skills Center for the Taylor Independent School District (ISD) which will help students develop skills needed for their future careers. The Samsung Skill Center will also offer students internships and recruiting opportunities.