Saying its largest ever funding in the US, the South Korean electronics big mentioned Tuesday that the manufacturing facility would create 2,000 high-tech jobs instantly, and hundreds extra within the native financial system as soon as it’s in full operation. The power is anticipated to start operations within the second half of 2024
“With larger manufacturing capability, we can higher serve the wants of our clients and contribute to the steadiness of the worldwide semiconductor provide chain,” Kinam Kim, Vice Chairman and CEO of Samsung Electronics, mentioned in an announcement.
The corporate mentioned that it selected the town of Taylor in Texas for its new plant primarily based on a number of elements, together with its proximity to Samsung’s present manufacturing website in Austin, the native semiconductor ecosystem, and authorities help.
The Taylor website will span greater than 5 million sq. meters and is anticipated to function a key location for Samsung’s world semiconductor manufacturing capability, together with its newest new manufacturing line in Pyeongtaek, South Korea.
Though the present worldwide scarcity of laptop chips is primarily pushed by the impression of the pandemic, excessive climate occasions which have hampered manufacturing and different elements, the US has been lagging behind different producers for years.
Its share of worldwide semiconductor manufacturing dropped to only 12% final 12 months, in line with the Semiconductor Business Affiliation. That is down from 37% in 1990. The commerce group blamed “substantial” subsidies provided by international governments that place the US at a “aggressive drawback.”
The chipmaker additionally introduced in Could that it has begun development of the manufacturing line in Pyeongtaek — one of many world’s largest hubs for semiconductor manufacturing — which it expects to finish in 2022.
— Matt Egan and Diksha Madhok contributed to this report.