Samsung to create 2,000 jobs in Texas with $17 billion chip factory

Samsung plans to build a $17 billion semiconductor manufacturing facility in Texas in an effort to tackle the global chip shortage. The South Korean electronics giant announced their largest-ever investment in the US and said on Tuesday that the factory would directly create 2,000 high-tech jobs and thousands more in the economy once it is fully operating. The facility is expected t fully run operations by the second half of 2024. Kinam Kim, Vice Chairman and CEO of Samsung Electronics said in a statement, "With greater manufacturing capacity, we will be able to better serve the needs of our customers and contribute to the stability of the global semiconductor supply chain."

The company also said that it chose the city of Taylor in Texas for the new plant based on many factors including proximity to Samsung's current manufacturing site in Austin, the local semiconductor ecosystem and government support. The site in Taylor will span more than 5 million square meters and is expected to serve as a key location for Samsung's global semiconductor manufacturing along with its latest new production line in Pyeongtaek, South Korea. 

Source: CNN