What you need to know
- Samsung is reportedly planning to open a second chip manufacturing plant in Texas.
- The company has apparently selected a site in the city of Taylor for that plan.
- The project is expected to create 1,800 jobs in the city.
Samsung already has a manufacturing plant in Austin, Texas where it builds some of its chips. The company is now reportedly set to expand its footprint in the region with another plant for advanced chips.
According to a report from The Wall Street Journal, Samsung will open its second chip-making plant in the city of Taylor (via Reuters). It is expected to cost around $17 billion and could create 1,800 jobs in the city. According to the report, the site will be 1,200 acres in size, which is larger than Samsung's current plant in Austin.
Samsung has remained silent on the project, and according to Reuters, no final decision on the planned manufacturing site has been made. Nonetheless, Texas Governor Greg Abbott is expected to announce the new location on Tuesday as part of his "economic announcement."
The South Korean tech giant could build chips as advanced as 3nm at the new site, if a previous Bloomberg report is to be believed. If ever the plant kicks off operations, it will supposedly produce advanced chips for autonomous vehicles and mobile devices, including many of the best Android phones.
It is a positive step, especially in light of the ongoing global chip shortage. Earlier this year, the U.S. Senate passed a major bill to aid in technological research and innovation. The legislation allots approximately $250 billion for that effort, with the semiconductor industry receiving $52 billion.