Government
BY HALEY MCLEOD
Samsung Electronics signed a preliminary memorandum agreement with the U.S. Department of Commerce on April 15, receiving $6.4 billion in government subsidies in exchange for an estimated $45 billion total investment within Central Texas. The federal funding is a result of the Creating Helpful Incentives to Produce Semiconductors and Science Act signed into e ect in 2022. The investment will transform the region surrounding the already under construction plant in Taylor, White House o cials said. The additional dollars will support over 20,000 jobs, with nearly 4,500 manufacturing jobs and 17,000 construction jobs created over the next ve years, according to a news release. Samsung receives $6.4B in subsidies
Looking ahead
Samsung will expand its footprint in Taylor to include an advanced packaging facility, a research and development center, and a second fabrication plant, furthering President Joe Biden’s goal to produce 20% of the world’s leading-edge logic chips by 2030, according to a news release. The pair of investments indicate plans to build a cluster of semiconductor factories in Central Texas. Over two dozen suppliers have already committed to coming to the region to support the cluster, according to White House senior administration o cials. “Williamson County has become a world leader in developing an ecosystem for the semiconductor industry. Its impact will be felt for generations to come,” Williamson County Judge Bill Gravell said.
GRANT CRAWFORD COMMUNITY IMPACT Samsung announced it would build additional facilities in Taylor April 15, with the help of $6 billion in federal funding.
Investing in tech
20K jobs created in construction and manufacturing over ve years $6.4B in government subsidies awarded to Samsung $45B total Samsung investment in Taylor and Central Texas
facilities to be added in Taylor under new investment
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SOURCES: SAMSUNG ELECTRONICS, U.S. DEPARTMENT OF COMMERCE, WILLIAMSON COUNTY COMMUNITY IMPACT
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