Photo: /Mykola Pokhodzhay
The U.S. Department of Commerce has reached a preliminary deal with Samsung to build new semiconductor chip plants in Texas.
The agreement was announced on April 15. According to NPR, Samsung will get $6.5 billion in federal funds, while the company will invest $40 billion of its own into the project. The plants — which NPR reports could be fully functional by the end of the decade and will create 21,500 jobs
— will be designed to manufacture “some of the most powerful chips in the world,” the Biden administration said. The plants will also be able to package chips, and will include research and development facilities.
This comes during a series of other large-scale investments in semiconductor manufacturing in the U.S. On April 8, the Biden administration announced a deal with Taiwan Semiconductor Manufacturing Company to build a third chip factory in Phoenix, Arizona. Days before that, South Korea chipmaker, SK Hynix, revealed plants to invest $3.9 billion in a chip-packaging facility in West Lafayette, Indiana.
