The Taylor Samsung plant is about to be a quarter of a billion dollars richer.
That's because it will receive a $250 million grant through the Texas Semiconductor Innovation Fund. Texas Governor Greg Abbott made the announcement Wednesday.
“Texas is home to the future of technology and innovation,” said Abbott. “With approximately $40 billion invested in Texas, Samsung is helping to cement Texas’ position as the leading state for semiconductor manufacturing, bringing in more business investment to Texas communities and creating thousands of good-paying jobs for hardworking Texans. This $4.73 billion investment by Samsung in their Taylor semiconductor fabrication facility will provide a more secure domestic supply of chips for critical U.S. industries and ensure the most advanced chips that will power next-generation technologies are Made in Texas.”
Samsung is investing $4.73 billion for a new initiative at the Taylor semiconductor fabrication facility as part of an onshoring strategy and transition to the manufacture of 2-nanometer leading-edge logic chips that power next-generation technologies in areas like 5G, artificial intelligence (AI), and high-performance computing. In November 2021, Abbott announced Samsung’s multi-billion-dollar investment to construct the Taylor facility, the largest foreign direct investment in Texas on record.
“Samsung has been proud to call Texas home for the past 30 years and is deeply appreciative to the State of Texas and the Governor’s Office for this significant grant award,” said Young Hyun Jun, Vice Chairman and Head of Device Solutions (DS) Division at Samsung Electronics. “This grant will ensure that our semiconductor manufacturing facility in Taylor delivers the most advanced technology for our global customers and continues to reinforce the chip supply chain in the U.S. We are excited about this opportunity and look forward to continuing to strengthen our relationship.”
More about this story can be seen in the weekend edition of the Taylor Press.
