Samsung is building a chip manufacturing facility in Austin, Texas USA. It is believed to have a cost of $17 billion. This is not the only plant that Samsung plans to build in the region.
Samsung applied for tax credits for 11 additional factories it plans to build in Texas’ Taylor and Manor regions. It will depend on whether Samsung is granted these tax credits. They will be worth a staggering $4.8 billion. The total investment in the 11 factories would be approximately $192 billion if the companies grant the go-ahead.
Samsung has the potential for more than 10,000 new jobs in the region. If all goes according to plan it will be Central Texas’ largest economic investment ever made.
Two of the 11 proposed plants will be in Austin and nine in Taylor. Taylor is a city of approximately 17,000 people located 25 miles northeast from Austin. It also houses a Samsung plant, currently in construction. The Austin plants will generate $25.4 billion in new investments and 1,800 jobs. Taylor will receive $167.6 million and 8,200 jobs.
According to a Samsung spokesperson, the applications are part the company’s long-term plan. Samsung wants to “assess and evaluate the viability of additional US manufacturing plant construction.”