Yonhap news agency reported on July 22 that Korean technology giant Samsung Electronics plans to invest nearly 200 billion USD to build 11 more semiconductor chip factories in the US in the next two decades.
Specifically, Samsung sent the estimated $192.1 billion investment to the Texas government to seek tax cuts for the construction of 11 new chip manufacturing facilities in the state, including nine in Taylor City and two in Austin City.
This potential investment will bring billions of dollars in additional capital, helping Samsung continue to promote its world-class business environment with a diverse, highly skilled workforce, Greg Abbott, Governor of Texas, welcomed the proposal.
Previously, in March, Mr. Abbott also urged the US Congress to create equal opportunities for foreign chipmakers by approving Samsung's "Semi-conductor Manufacturing for the US" proposal to increase US chip manufacturing capacity, address the current shortage of chip supply chains, and boost the economy and national security.
However, in a report to the state of Texas, Samsung said it does not have a specific plan for construction at the present time.
Accordingly, many speculate that this construction plan is just a part of Samsung's long-term strategy to assess the feasibility of building additional factories in the US.
