Samsung factory to be built in Taylor in August 2022 (Source: City of Taylor)
AUSTIN (KXAN) — Samsung Electronics said it plans to increase its investment in advanced semiconductor development in Texas to about $44 billion, The Wall Street Journal reported.
When contacted by KXAN, a Samsung spokesperson said he was unable to comment.
In Taylor, where a new semiconductor hub is being built, the funds will be used to build a new chip manufacturing plant and facilities for advanced packaging and research and development, the report said. .
According to the Wall Street Journal, Samsung was expected to receive billions of dollars in subsidies from the U.S. Chip Act.
The new investment will add to the $17 billion the company is already spending on chip manufacturing plants.
The factory is expected to begin mass production of chips as early as this summer, and past records show it was expected to create at least 10,000 new jobs.
A Williamson County judge announced in February that Samsung’s Taylor factory would begin operations by July 1, following reports that it would not begin mass production until 2025.
More than two years ago, state leaders announced the project would be coming to Williamson County. At the time, Gov. Greg Abbott said the facility would create more than 2,000 technology jobs, thousands of indirect jobs and at least 6,500 construction jobs.
