Employment data released by Samsung or state employment reports.

Samsung Gets $6.4B from Biden for Texas Chip Plants, Plans $40B Investment

Apr 15, 2024, 09:30 AM

The Biden administration has committed to providing up to $6.4 billion in grants to Samsung Electronics for the expansion of semiconductor manufacturing in Texas. This funding, part of the CHIPS Act, is aimed at bolstering U.S. chip production capabilities. Samsung plans to invest an additional $40 billion in the region, which includes constructing two new foundry fabrication plants in Austin, Texas. These facilities are expected to produce 2 nanometer and 4 nanometer logic chips. The initiative is projected to create at least 21,500 jobs and includes a $40 million investment in local workforce training. Additionally, the project will benefit from a 25% investment tax credit and aims to start producing 2nm chips by 2026.