April 15 (UPI) — The White House on Monday announced it will give Samsung $6.4 billion to help it build large semiconductor plants in Texas in a continued move to beef up America’s manufacturing sector.
The money, which is coming from the CHIPS and Science Act, will be coupled with Samsung’s own $40 billion investment in new semiconductor plants in Taylor, Texas, about 40 miles northeast of Austin.
Samsung also promised to expand its existing plant in Austin as well.
The semiconductor chips, which are used in everything from vehicles, medical devices, appliances and artificial intelligence machines, are mostly built outside of the United States and slowed the economy during the COVID-19 pandemic.
Biden said the deal will “cement central Texas’ role as a state-of-the-art semiconductor ecosystem, creating at least 21,500 jobs and leveraging up to $40 million in CHIPS funding to train and develop the local workforce.”
He added that beyond the economic benefit, the chips made by Samsung will be some of the most advanced in the world, going to help national security.
“Today’s announcement of Samsung’s investment in the United States is another example of how my Investing in America agenda and the U.S.-ROK [Korea] Alliance is creating opportunity in every corner of the country,” Biden said.
Last week, the administration announced a $6.6 billion deal with the Taiwan Semiconductor Manufacturing Co. to enlarge its foot print in Arizona. The funds will help TSMC construct a third chip in the Phoenix area.
