Samsung Electronics Co., the electronics and chip manufacturing subsidiary has recently floated an idea to invest somewhere around $200 billion to establish a total of 11 more chip manufacturing plants in the United States in the next few decades, according to documents filed in the state of Texas. The potential investment plan is described in detail in the South Korean tech manufacturer’s application filed in the Taylor and Manor school districts, which seeks tax breaks for the potential construction of 11 new chip manufacturing facilities in the state, nine in Taylor and two in Austin.
Samsung has already established giant chip plants in Austin, Texas, while it is currently building a $17 billion manufacturing facility in the nearby city of Taylor. One of the world’s largest memory chip manufacturers is making no guarantees or making any solid commitments to making the expected $192.1 billion investment.
“We currently do not have specific plans to build at this time, however, the Chapter 313 applications to the State of Texas are part of a long-term planning process of Samsung to evaluate the viability of potentially building additional fabrication plants in the United States,” Samsung expressed in a statement.
Chapter 313 “allows public school districts to offer tax incentives for businesses that invest in their communities,” according to the Texas Comptroller’s office. And it is set to expire at the end of the year, which means businesses must apply again in order to continue to benefit from the tax program.
Texas Governor Greg Abbott greeted the proposal with open arms. “This potential investment will bring billions of additional capital to continue growing our world-class business climate and diverse, highly skilled workforce,” he said in a statement.
Abbott also encouraged the US Congress to enact the Creating Helpful Incentives to Produce Semiconductors for America (CHIPS) Act to help the U.S. cement “a secure semiconductor supply chain, which is vital to our nation’s economy and national security.”
