Global brand Samsung Electronics is taking into consideration the possibility of erecting a new $17 billion plan in Austin, Texas – which would lead and make way for up to 1800 jobs. This news is in accordance with the documents which have been filed with the Texas State authorities. With the proposals, the Korean manufacturer is seeking combined tax breaks of $805.5 million spread across 20 years from Travis County and the City of Austin – this in accordance with the papers filed.
The Korean company, in it’d filings had actually claimed that if indeed Austin is selected, the company would begin construction work on the site by the middle of the year and that the plan will begin operations by Q3 of 2023.
The company claims that the project is highly competitive, as it is actively looking for other locations too both in the US as well as South Korea. Some other sites in fact in the US include both Arizona as well as New York. The company further goes on to claim that it is taking into account the access to talent, chip ecosystem, as well as speed market in its evaluation of the various sites.
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Samsung semiconductor arm happens to be a supplier of chips to some rather big industry hitters such as Tesla, Qualcomm and also Nvidia. The filings proceed on to show that the new chip manufacturing plant will have the capabilities to produce “advanced logic devices,” which would of course refer to the fact that it would be producing the smallest, and the fastest kinds of computing chips.
Samsung has also indeed confirmed that the brand will be expanding the capacity of its existing chip plant in Austin, however, for now, there is no case at all of a definitive statement on how the expansion process will actually run.