According to documents filed in Texas, Samsung is considering four sites in the US, including in Austin, Texas, for a semiconductor factory or a $ 17 billion chip factory.
The South Korean company has revealed that it will review one site in Austin, in addition to two sites in Arizona, and one in New York for the ‘extremely competitive project’. Every place proposes to reduce tax rates and “substantial allowances and / or refundable tax credits,” the company wrote in a document filed Feb. 26 in Texas.
Samsung has said it will commit $ 17 billion to Project Silicon Silver, including nearly $ 5.1 billion in buildings and property 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 in the first decade. The construction of the plant is expected to generate $ 8.9 billion in gross area 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.
The property tax reduction would amount to about two billion dollars for both the city and the province over two decades. The study also predicted that economic production, both directly and indirectly, would reach about $ 8.6 billion.
Samsung already has one chip plant in Austin, which has been ordered to temporarily halt production amid recent power outages and the severe winter storm in the state.
‘Because of his strong ties with the local community and the successful past 25 years of Samsung Texas wants to manufacture Semiconductor in Texas, it wants to continue investing in the city and state, ”reads the study by Samsung.
If the Austin site is confirmed, Samsung expects construction of the plant to begin in 2021 and to begin by the end of 2023, according to documentation obtained by Bloomberg News in January.
Samsung did not immediately return The Hill’s request for comment.
The announcement comes as President Biden
Joe Biden, head of the interception bureau: minimum wage was not a ‘high priority’ for Biden in the COVID-19 relief in the South Carolina Senate, adding a firing squad as an alternative method of execution.the administration has preferred to improve the supply chain for semiconductors as the world has a shortage. He signed an executive order last week to launch a review of the chip supply chain, as well as other products, including large-capacity batteries and pharmaceuticals.