Samsung Electronics, Co., Ltd. will invest approximately $17 billion to build a new semiconductor manufacturing facility in Taylor, TX. The project is the largest foreign direct investment in Texas on record, and will bring the company’s total Texas investment to more than $35 billion since 1996.
“As we add a new facility in Taylor, Samsung is laying the groundwork for another important chapter in our future,” said Dr. Kinam Kim, Vice Chairman and CEO of Samsung Electronics Device Solutions Division. “With greater manufacturing capacity, we will be able to better serve the needs of our customers and contribute to the stability of the global semiconductor supply chain. We are also proud to be bringing more jobs and supporting the training and talent development for local communities, as Samsung celebrates 25 years of semiconductor manufacturing in the United States.”
Originally considered a longshot for the new factory, Williamson County was reportedly competing for the project with sites in Arizona and New York. The new manufacturing facility will produce advanced logic chips that will power next-generation devices for applications such as mobile, 5G, high-performance computing (HPC), and artificial intelligence (AI).
After reviewing multiple locations within the U.S. for a potential manufacturing site, the decision to invest in Taylor was based on multiple factors, including the local semiconductor ecosystem, infrastructure stability, local government support, and community development opportunities. In particular, the proximity to Samsung’s current manufacturing site in Austin, about 15 miles southwest of Taylor, allows the two locations to share the necessary infrastructure and resources.
“Samsung Austin Semiconductor has been proud to call Texas home for more than 25 years,” said Dr. Sang Sup Jeong, President of Samsung Austin Semiconductor. “We are excited about our growth and future opportunities in Central Texas and appreciate the support from all Central Texas leaders.”
The project will create over 2,000 high-tech jobs, thousands of indirect jobs, and a minimum of 6,500 construction jobs. Construction will begin in early 2022 with a target of production start in the second half of 2024. The $17 billion in capital investments includes buildings, property improvements, machinery, and equipment.
“Companies like Samsung continue to invest in Texas because of our world-class business climate and exceptional workforce,” said Governor Greg Abbott. “Samsung’s new semiconductor manufacturing facility in Taylor will bring countless opportunities for hardworking Central Texans and their families and will play a major role in our state’s continued exceptionalism in the semiconductor industry. I look forward to expanding our partnership to keep the Lone Star State a leader in advanced technology and a dynamic economic powerhouse.”
A Texas Enterprise Fund (TEF) grant of $27,000,000 has been extended to Samsung for the company’s job creation. In addition, Samsung has been offered a $20,000 Veteran Created Job Bonus.
“Samsung’s decision to locate its cutting-edge semiconductor fabrication plant in Taylor is the single most significant and consequential development for the local economy since the International & Great Northern Railroad laid tracks here in the 1870’s,” said Taylor Mayor Brandt Rydell. “The City of Taylor is honored to have been selected by Samsung as the site for this critically important project, and we look forward to a long-lasting and mutually-beneficial relationship between our community and the company.”
“Williamson County has again proven to be a leader in attracting the world’s top technology companies,” said Judge Bill Gravell. “To Samsung, I want to say ‘Welcome Home.’ We want to thank Governor Abbott for his amazing leadership and help on this project. With the addition of Samsung on the east side of our county, Apple on the west side, and Dell Computers World headquarters in the center, Williamson County is now home to the technology superhighway of the world.”
“As one of the largest foreign investment economic development projects in United States history, to say Samsung’s commitment to this project is monumental would be a huge understatement,” said Taylor Economic Development Corporation President and CEO Mark Thomas. “The Taylor Economic Development Corporation with its partners at Williamson County, the City of Taylor and the Office of the Governor are beaming with pride to bring this important Advanced Chip Manufacturing facility to the City of Taylor, Williamson County, the Austin MSA, State of Texas and the United States of America.”
CBRE TO EXPAND IN DALLAS, RICHARDSON
Elsewhere in Texas, commercial real estate services and investment firm CBRE, Inc., will create 460 new jobs and more than $29 million in capital investment over the next 13 years at its Dallas headquarters, and 550 new jobs and more than $13 million in capital investment at a new operations center in Richardson.
“Exceptional companies like CBRE are attracted to Texas because of our dynamic workforce and unrivaled business climate,” said Gov. Abbott. “CBRE’s expansion in the Dallas-Fort Worth Metroplex will bring over 1,000 high-paying jobs and greater opportunities to the hardworking people of Texas, and I look forward to a strong relationship with the company as we work together to keep Texas the national model for economic prosperity.”
CBRE’s expansion of its global headquarters in Dallas County illustrates the economic power of North Texas and highlights the advantages of doing business in Texas, said Robert Allen, President and CEO of the Texas Economic Development Corporation (TxEDC), based in Austin.
“We talk a lot about these advantages — low tax burden, low cost of doing business, business-friendly climate, reliable infrastructure, reasonable regulations, and the nation’s second largest workforce — but the region’s economic development partners and its elected leaders also have a winning business development strategy and offer strong support for relocating and expanding businesses. That combination is what often edges out the competition from other states,” he said. “Add to that the dynamic culture of innovation, and you have a very compelling argument for Dallas-Fort Worth.”
The Texas Enterprise Fund extended grants of $3.45 million and $3.3 million to CBRE, Inc. for the expansion.
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