Tech Giant To Invest $17 Billion In Texas Chip Project

Tech giant Samsung is poised to announce a $17 billion investment in a semiconductor manufacturing plant located in Taylor, Texas.

The facility is estimated to create 1,800 jobs and will begin producing computer chips at the end of 2024, according to The Wall Street Journal, who first reported the investment. The city of Taylor offered Samsung substantial tax breaks to choose it for the plant’s location, the WSJ reported.

Samsung did not immediately respond to the Daily Caller News Foundation’s request for comment. A Samsung spokeswoman told the WSJ that “a final decision has not yet been made regarding the location” of the chip facility.

Samsung previously considered building the plant at locations in Arizona, Florida and New York in addition to Taylor and Austin, Texas. Republican Texas Gov. Greg Abbott is expected to announce the construction of the facility Tuesday evening, according to the WSJ.

Abbott’s office did not respond to the DCNF’s request for comment.

The Biden administration has prioritized reshoring semiconductor manufacturing, which is largely located overseas, signing an executive order to incentivize domestic chip fabrication. The Senate passed legislation in June allocating $250 billion for semiconductor manufacturing and related issues in an effort to ease U.S. dependence on Taiwanese chips.

Though production will reportedly not begin until 2024, the construction of the plant comes amid an ongoing chip shortage affecting many sectors ranging from consumer electronics to vehicles. Prices of electronics have increased throughout the COVID-19 pandemic, and chip shortages have worsened supply chain dysfunction.