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Thursday, May 23, 2024 at 12:48 AM
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Semiconductor celebrates $6.4 billion investment

Semiconductor celebrates $6.4 billion investment
The Biden administration released details Monday, April 15 about an agreement to provide a $6.4 billion grant to Samsung as part of the federal CHIPS and Science Act. The Taylor semiconductor site hosted a celebration the same day. Photo by Hunter Dworaczyk

Author: Hunter Dworaczyk

Samsung Austin Semiconductor’s Taylor site served as announcement grounds for what officials describe as a “new chapter” of the company’s journey.

The Biden administration released details Monday, April 15 about an agreement to provide a $6.4 billion grant to Samsung as part of the federal CHIPS and Science Act.

“This project calls for incredible importance, since we are not just expanding production facilities,” said Kye Hyun Kyung, Samsung Semiconductor president and CEO. “We are strengthening the local semiconductor ecosystem and positioning the United States as a global semiconductor manufacturing expert.”

The CHIPs funding, along with an over $40 billion investment from Samsung, will help build an advanced packaging facility, a research and development center and a second fabrication plant in Taylor.

According to information provided by Williamson County, Samsung announced the total investment would be $45 billion in central Texas, primarily in Taylor.

“We’re not just building a fab,” said Gina Raimondo, United States secretary of commerce. “This is more than just building a factory to build chips. It’s so much more than that. This investment will quite literally transform central Texas. It’s going to support a comprehensive, diverse and leading-edge manufacturing ecosystem here in central Texas.”

According to a statement released by President Joe Biden, the agreement will create at least 21,500 jobs in central Texas.

Other speakers at Monday’s event in Taylor included Jon Taylor, corporate vice president of fab engineering and public affairs for Samsung Austin Semiconductor, Congressman Michael McCaul, Congressman Lloyd Doggett and Arati Prabhakar, director of the White House Office of Science and Technology Policy, spoke at the announcement celebration.

Read more about the event in the Wednesday, April 17 e-edition of the Taylor Press.


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