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Two locations in Arizona, one in New York and one in Texas are being considered for a new billion dollar chip factory for Samsung
Samsung Electronics is considering four locations in the US to build a brand new multi-billion dollar chip factory.
Reuters reported that documents had been filed with Texas state officials indicating the South Korean company is considering possible locations in Texas, Arizona and New York.
It should be noted that the previous Trump administration encouraged chipmakers to build factories in the United States. Following talks with the former president, TSMC announced in May 2020 that it was planning to build a $ 12 billion factory in Arizona.
According to Reuters, the Texas documents revealing Samsung’s plans for a U.S. chip factory were dated February 26, and they also estimated that the tax rebates for the Travis County, Texas plant and the city of Austin would be about 1.48 in 20 years Will be billions of dollars out of the aforementioned $ 805.5 million.
However, Samsung is also in talks with its Arizona and New York locations, each of which offers property tax cuts and “substantial grants and / or refundable tax credits” to fund infrastructure improvements.
It appears that plans to build Samsung’s new plant could produce “advanced logic devices” for Samsung’s chip contract manufacturing business and create 1,800 jobs, which will be an enticing prospect for many state officials.
Samsung should remember that Austin, Texas, already has a chip facility that was shut down for a few weeks after the severe winter storm in Lone Star state widespread power and water shortages.
The US has been trying for some time to lure chip companies into building factories in America.
One of the main promises of Trump’s election as US president in 2016 was his promise to encourage companies to keep or create jobs in the US rather than sending them overseas.
This meant keeping companies and encouraging them to keep or build new factories in America.
Trump had some successes with tech firms in this regard during his tenure.
In February 2017, for example, then Intel CEO Brian Krzanich stood next to Donald Trump at the Resolute counter in the Oval Office and announced that the American chip maker would invest $ 7 billion in opening a factory (Fab 42) in Arizona As he claimed at the time, it was “the most advanced semiconductor factory in the world”.
Intel’s Fab 42 factory in Chandler, Arizona began production in October 2020.
Apple CEO Tim Cook announced in 2017 that his company would set up a $ 1 billion (£ 776 million) fund to encourage advanced manufacturing orders in the United States, though most of its iPhones are still made in the Far East become.