Abbott Economy: Samsung to Build $17 Billion Chip Factory in Texas

Texas Attorney General and Republican gubernatorial candidate Greg Abbott celebrates during his victory party on November 4, 2014 in Austin, Texas. Abbott defeated Democratic challenger Texas State Sen. Wendy Davis. (Photo by Erich Schlegel/Getty Images)
Erich Schlegel/Getty Images

Korean tech giant Samsung recently announced that it plans to invest around $17 billion to build a semiconductor manufacturing facility in Taylor, Texas. The plant will be Samsung’s largest investment in the United States, and according to Gov. Greg Abbott, the “largest foreign direct investment in the state of Texas ever.”

The Wall Street Journal reports that on Tuesday, Samsung announced plans to invest around $17 billion in a semiconductor manufacturing facility in Taylor, Texas. This marks the latest chip manufacturing commitment this year in the middle of a global chip shortage. Gov. Greg Abbott (R) called the plan “the largest foreign direct investment in the state of Texas ever,” speaking at a press conference with Samsung officials.

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Louie Mueller BBQ in Taylor, Texas

Louie Mueller BBQ in Taylor, Texas (Krista/Flickr)

Samsung stated that the factory would be the company’s largest U.S. investment and would primarily be used to produce high-end chips used in smartphones and other devices, likely employing 2,000 Texans in high-tech jobs. Construction for the facility is scheduled to start next year and the first chips should be made at the factory in the second half of 2024.

Texas Gov Greg Abbott shows off Senate Bill 1, also known as the election integrity bill, after he signed it into law in Tyler, Texas, Tuesday, Sept. 7, 2021. The sweeping bill signed Tuesday by the two-term Republican governor further tightens Texas' strict voting laws. (AP Photo/LM Otero)

Texas Gov Greg Abbott shows off Senate Bill 1, also known as the election integrity bill, after he signed it into law in Tyler, Texas, Tuesday, Sept. 7, 2021. (AP Photo/LM Otero)

“As we add a new facility in Taylor, Samsung is laying the groundwork for another important chapter in our future,” said Kinam Kim, Vice Chairman, and CEO of Samsung Electronics Device Solutions. “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.”

“We are also proud to be bringing more jobs and supporting the training and talent development for local communities, as Samsung celebrates 25 years of semiconductor manufacturing in the U.S.,” Kim said.

Chip demand has increased massively in recent years driven primarily by the mass adoption of digital tools during the pandemic, the rollout of 5G communications networks, and the increased manufacturing of 5G enabled devices.

Breitbart News recently reported that another major chip manufacturer, Intel, has had some setbacks in recent years but has unveiled a plan to revitalize U.S. chip manufacturing.

Along with major upgrades to existing manufacturing facilities, the chip giant plans a major new facility in Arizona. In the near future, the company will announce the location of a $100 billion manufacturing complex with the goal of raising American chip manufacturing to 30 percent of worldwide production.

Read more about Samsung’s new plant at the Wall Street Journal here.

Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship. Follow him on Twitter @LucasNolan or contact via secure email at the address lucasnolan@protonmail.com

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