AUSTIN, TEXAS – Today, Texas Association of Business (TAB) President and CEO Glenn Hamer issued the following statement after Samsung Electronics announced their $44 billion investment in semiconductor technology in Texas. As part of the agreement announced today, the United States Commerce Department has agreed to provide up to $6.4 billion in funding for the project under the CHIPS and Science Act of 2022:
“The Texas business community is greatly enhanced by Samsung’s announcement of a new $44 billion investment into cutting edge semiconductor technology and advanced packaging in our state. This investment will create thousands of great paying jobs, provide huge amounts of revenue to local governments, and ensure Texas’ continued leadership in semiconductor fabrication and advanced packaging.”
“Samsung’s investment is bolstered by funds authorized under the federal CHIPS and Science Act, which TAB strongly supported to ensure Texas can continue to lead the charge in our broader national effort to maintain secure supply chains in this increasingly critical industry. TAB would like to thank U.S. Commerce Secretary Raimondo, Sen. John Cornyn, U.S. House Foreign Affairs Chairman Michael McCaul, U.S. House Appropriations Chair Kay Granger, Congressman Lloyd Doggett, Texas Governor Greg Abbott and all the Texas legislators who worked to secure the passage of the Texas CHIPS Act in 2023, and the creation of the JETI program to attract new, large capital investment in the Lone Star State.”
Samsung’s investment is projected to create at least 17,000 construction jobs and more than 4,500 manufacturing jobs in Texas. The first factory is expected to be operational by 2026 and the second in 2027. Samsung’s factories will produce four- and two-nanometer computer chips as well as the creation of a research development factory, and a packaging facility to create additional components of packaging to surround the chip.
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