Samsung officially announced the construction of a chip production plant for $ 17 billion

Everything is probably aware that the semiconductor industry is now experiencing not the best times. Coronavirus pandemic and demand surge led to a global shortage of chips. And in order to cope with the deficit, the chipames actively increase the production volumes and expand production capacity. Thus, the South Korean company Samsung decided to build a new plant in the United States, which should contribute to the solution of the problem.

On Wednesday, November 24, Samsung made an official statement on the start of building a new microcircuit plant. It will be located in Taylor, Texas. The Korean company plans to invest about $ 17 billion in the construction of a new plant.

Samsung will start building a new plant in 2022, and to complete it and run mass production is planned approximately by 2024. There will be various microcircuits, including 5G equipment and systems with artificial intelligence. The company emphasizes that the launch of a new factory will provide about 2000 high-tech jobs.

Samsung notes that choosing a place for the construction of a new plant stopped at Taylor because of the developed infrastructure and support from the local government. Earlier, the media was told that the state authorities provided Samsung various tax breaks, including 90 percent benefits for property tax for 10 years.