The source confirmed earlier information that Samsung Electronics is considering Austin, Texas, as one of the possible sites for a new chip manufacturing plant. The venture, which costs $ 17 billion to build, will create 1,800 jobs, the South Korean company said. This is stated in the documents prepared for the state leadership.
According to the documents, the South Korean giant expects to receive tax breaks of $ 805.5 million and other concessions from Travis County and the city of Austin within 20 years.
If Austin is selected to host the plant, the manufacturer expects to start construction in the second quarter of this year and bring the facility online in the third quarter of 2023.
Other US accommodation options include Arizona and New York. In addition, the company is considering a construction option in South Korea.
The plant will manufacture logic chips based on advanced technological processes. Note that Samsung already has a chip factory in Austin. The new production is planned to be located on a 259 hectare site owned by the company. The area of the plant itself will be 650,000 m2.