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Wednesday, January 26, 2022

Samsung to build a $ 17 billion chip factory in Texas.

Samsung will build a $ 17 billion semiconductor plant in Taylor, Texas, said Tuesday it would be a big boost for bilateral efforts in Washington to convince chipmakers to produce more components in the United States.

The company’s decision came after months of discussions on possible locations in the US and South Korea. The company, one of the world’s largest computer chip makers, was considering a facility in Austin, about forty minutes from Taylor, as well as in Arizona and New York.

As Washington urged chipmakers to build more in the United States, cities were in a rush to get some of the potential boom. Taylor went to great lengths to lure the Samsung factory. The city, its independent school district and surrounding counties have pledged hundreds of millions of dollars in tax breaks to the company. Semiconductor factories require copious amounts of water and reliable electricity, so they arranged to transport water from a neighboring county to the plant.

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Samsung’s decision came at a time of severe shortages of semiconductors, which are critical to products as diverse as the Ford F-150, medical devices and the iPhone.

Legislators and the Biden administration are concerned that not enough vital components are being produced in America. China has invested heavily in stimulating the production of computer chips within its borders, while Taiwan and South Korea produce the bulk of semiconductors. Politicians fear that the United States will be at an economic and national security disadvantage.

The Taylor plant will be the last built in America in recent years. Intel this year laid the foundations for two new factories at its existing campus in Arizona. Taiwan Semiconductor Manufacturing Company is also building a new plant in the state.

World Nation News Deskhttps://www.worldnationnews.com
World Nation News is a digital news portal website. Which provides important and latest breaking news updates to our audience in an effective and efficient ways, like world’s top stories, entertainment, sports, technology and much more news.
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