Samsung makes a lot of things and one of such is chipset manufacturing. With the global shortage of chipsets still affecting the production of many consumers products including Samsung’s own Galaxy Note series, the South Korean tech giant will reportedly build a multi-billion dollar chip plant in the US.
With that said, despite the company reportedly shortlisting two potential locations for this big project in the United States, Texas is said to have been officially confirmed as the chosen site.
Samsung will therefore be making a huge US$17 billion for its biggest-ever project in the United States.
This will create about 2,000 tech-related jobs in the state with construction starting in the early parts of the year 2022.
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The project is expected to become fully operational by the second half of the year 2024.
Kinam Kim, chief executive of Samsung electronics device solutions said: “With greater manufacturing capacity, we will be able to better serve the needs of our customers and contribute to the stability of the global semiconductor supply chain.”
In fact, the office of the Texas state government is said to have announced that it give Samsung about US$27 million grant for creating jobs in the state.
The Korean tech company continues to be the world’s largest chipmaker with over 20,000 employees in the United States alone.
The new chips made at this new Texas facility will be used in a range of technologies and devices, including mobile phones, 5G, high-performance computing, and artificial intelligence, among others.
Earlier, a proposed resolution posted on the Taylor city’s website showed that for the land Samsung will use, it is set to be offered a grant equivalent to 92.5% of assessed property tax for 10 years, 90% for the following 10 years, and then 85% in the 10 years after that.
As far as chip shortage goes, this is expected to continue even in 2022 but with innovations like this, the shortage may eventually come to a stop especially as more countries are opening up for manufacturing as COVID-19 subsides.
