Texas Governor Greg Abbott scheduled to make economic announcement on Tuesday on Samsung chip factory location

On Tuesday, Samsung Electronics Co Ltd said, it has yet to make a final decision on the location of its new $17 billion chip plant in the United States, after the Wall Street Journal reported it has picked Taylor, Texas as the location for building the plant.

According to the WSJ report, Texas Governor Greg Abbott is scheduled to make an “economic announcement” on Tuesday at 5 p.m. (2300 GMT).

According to sources familiar with the matter at hand, a site in Texas’s Williamson County, close to the city of Taylor, has offered the best incentive package to build the plant.

Samsung’s new plant will make advanced logic chips used to power mobile devices and autonomous vehicles.

The new factory will be Samsung’s second biggest chip factory in Texas; it already has a chip plant in Austin.

In the race to expand contract chip manufacturing base in the United States, Samsung is joined by TSMC and Intel to expand their manufacturing base in the United States.

U.S. President Joe Biden’s Administration has promised billions of dollars in federal funding to boost chip manufacturing and research in the country to address shortages for critical industries including automotive.

Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Regulations & Legal, Strategy

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