Samsung is considering four locations in the United States, including Austin, Texas, for a $ 17 billion semiconductor or chip factory, according to documents filed in Texas.
The South Korean company has revealed that it is reviewing a site in Austin, as well as two sites in Arizona and one in New York for the “highly competitive project”. Each location is proposing a reduction in property tax and “significant concessions and / or refundable tax credits,” the company wrote in a document filed in Texas on February 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 will create 1,800 jobs in the first decade. The construction of the factory is expected to generate US $ 8.9 billion in 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 rebates would total approximately $ 1.5 billion in two decades for the city and the county. The study also predicted that economic production, direct and indirect, would reach about US $ 8.6 billion.
Samsung already has a chip factory in Austin, which was forced to temporarily halt production amid recent power outages and the state’s heavy winter storm.
“Because of its strong ties to the local community and the successful past 25 years of manufacturing in Texas, Samsung Austin Semiconductor would like to continue investing in city and state, ”said the Samsung study.
If the Austin location is confirmed, Samsung expects to begin construction of the facility in 2021 and put it into operation 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.
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Joe BidenIntercept chief of staff: minimum wage was not “high priority” for Biden in relief from COVID-19 South Carolina Senate adds firing squad as an alternative method of execution Seth Harris, Obama’s former president, to serve as Biden’s labor consultant: MORE reportSemiconductor management has prioritized improving the semiconductor supply chain as the world deals with scarcity. 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.