Samsung is considering four locations in the US, including in Austin, Texas, for a $ 17 billion semiconductor or chip plant, according to documents filed in Texas.
The South Korean company has revealed that it is reviewing one site in Austin, in addition to two sites in Arizona and one in New York, for the “highly competitive project.” Each location proposes a property tax reduction and “substantial subsidies and / or refundable tax credits,” the company wrote in a document filed Feb. 26 in Texas.
Samsung said it would allocate $ 17 billion to Project Silicon Silver, including nearly $ 5.1 billion in buildings and property improvements and more than $ 9.9 billion in machinery and equipment.
In an economic impact study a local consultant, Impact DataSource LLC, in Texas predicted that the project will create 1,800 jobs in the first decade. The plant’s construction is projected to create $ 8.9 billion in gross acreage and 19,873 jobs.
The study predicted that a new facility in Austin would bring 1,626 new residents, including 542 new workers, to the area.
The property tax reduction would add up to about $ 1.5 billion for both the city and the county in two decades. The study also predicted that economic output, both direct and indirect, would be approximately $ 8.6 billion.
Samsung already has one chip factory in Austin, which was ordered to temporarily shut down production due to the recent power outages and severe winter storm in the state.
“Because of the strong ties with the local community and the successful past 25 years production in Texas, Samsung Austin Semiconductor wants to continue to invest in the city and state, ”according to Samsung’s study.
If the Austin location is confirmed, Samsung expects to begin construction of the facility in 2021 and have it operational by the end of 2023, according to a January filing obtained by Bloomberg News.
Samsung did not immediately respond to The Hill’s request for comment.
The announcement comes as President Biden
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