Samsung is considering four locations in the United States, including Austin, Texas, for a $ 17 billion chip or semiconductor factory, according to documents filed in Texas.
The South Korean company revealed that it is reviewing one site in Austin, as well as two sites in Arizona and one in New York, for the “highly competitive project.” Each site proposes a reduction in property tax and “significant subsidies and / or repayable credits,” the company wrote in a paper filed in Texas on Feb. 26.
Samsung said it would 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, in Texas, predicted that the project would create 1,800 jobs over the first decade. The construction of the factory was expected to support $ 8.9 billion in surface gross product and 19,873 jobs.
The study predicted that a new facility in Austin would bring 1,626 new residents, including 542 new workers, to the area.
Property tax cuts would amount to approximately $ 1.5 billion over two decades, for both the city and the county. The study also predicted that economic output, both direct and indirect, would reach $ 8.6 billion.
Samsung already has a chip plant in Austin, which has been ordered to temporarily halt production amid recent power outages and a severe winter storm in the state.
“Because of their strong ties to the local community and the achievements of the last 25 years of manufacturer in Texas, Samsung Austin Semiconductor would like to continue investing in the city and state, ”the Samsung study said.
If the Austin site is confirmed, Samsung expects to begin construction of the facility in 2021 and get it up and running by the end of 2023, according to a January file obtained by Bloomberg News.
Samsung did not immediately return The Hill’s request for comment.
The ad arrives like this President Biden
Joe Biden: Head of Interception Office: Minimum Wage Was Not a Priority for Biden in COVID-19 Relief South Carolina Senate Adds Shooting Team as Alternative Execution Method Seth Harris , an Obama student, as Biden’s employment advisor: MORE reportThe administration has prioritized improving the semiconductor supply chain as the world faces scarcity. Last week it signed an executive order to launch a review of the chip supply chain, as well as other products, including high-capacity batteries and pharmaceuticals.