Samsung Electronics revealed in the latest document that they are considering the establishment of 11 chip factories in Texas, USA in the next two decades, the total investment may be close to 200 billion US dollars, and create more than 10,000 chips and employment opportunities.
This could be the largest economic investment in Central Texas history, but it’s just a proposed spend, and Samsung has no commitment to invest.
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The South Korean tech giant disclosed the prospect of investing nearly $200 billion over the next 20 years to build 11 new chip manufacturing plants in Texas in a recent filing with the Texas Comptroller’s Office and released it on Wednesday. Samsung Electronics proposed that if this huge investment is implemented, it will greatly enhance its semiconductor market position in the United States.
Moreover, the sources believe that one possible reason is that the Texas incentive program, which provides a 10-year property tax relief for large investments, will expire at the end of the year. So Samsung is building these new factories in order to seek tax breaks.
Two of Samsung’s factories may be located in Austin, Texas, and the remaining nine may be in Tyler, Texas. Samsung could invest nearly $170 billion in Taylor’s nine new chip factories and about $25 billion in Austin. Samsung spokesperson Michele Glaze said that submitting an incentive application is part of the company’s long-term plan.
“We currently have no specific construction plans, but the Section 313 application to Texas is part of Samsung’s long-term planning process to assess the feasibility of potentially building additional manufacturing plants in the United States,” he said in a statement.
