Samsung is considering four US sites, including in Austin, Texas, for a $ 17 billion semiconductor or chip factory, according to documents filed in Texas.
The South Korean company revealed that it is analyzing a site in Austin, in addition to two sites in Arizona and one in New York for the “extremely competitive project”. Each location proposes a reduction in property tax and “significant subsidies and / or refundable tax credits,” the company wrote in a Feb. 26 paper in Texas.
Samsung has said it will commit $ 17 billion to the Silicon Silver Project, including nearly $ 5.1 billion in buildings and real estate improvements and more than $ 9.9 billion in machinery and equipment.
In an economic impact study, a local consultant, Impact DataSource LLC, of Texas, predicted that the project would create 1,800 jobs in the first decade. The construction of the plant would be expected to support $ 8.9 billion in gross product and 19,873 jobs.
The study predicted that a new facility in Austin will bring 1,626 new residents, including 542 new workers, to the area.
Property tax cuts would amount to about $ 1.5 billion over two decades, for both the city and the county. The study also predicted that economic production, both direct and indirect, will reach about $ 8.6 billion.
Samsung already has a chip factory in Austin, which has been ordered to temporarily shut down production amid recent power outages and a severe winter storm in the state.
“Due to its strong ties with the local community and the success of the last 25 years production in Texas, Samsung Austin Semiconductor would like to continue to invest in city and state, ”said the Samsung study.
If the Austin site is confirmed, Samsung expects to begin construction of the facility in 2021 and put it into operation by the end of 2023, according to a January file obtained by Bloomberg News.
Samsung did not immediately return Hill’s request for comment.
The ad comes as. President Biden
Joe Biden: Head of Interception Bureau: The minimum wage was not a “high priority” for Biden in helping COVID-19 the South Carolina Senate add the enforcement team as an alternative method of execution.The administration has given priority to improving the supply chain for semiconductors, as the world is facing a shortage. He signed an executive order last week to launch a review of the supply chain for chips, as well as other products, including high-capacity batteries and pharmaceuticals.