South Korean tech giant Samsung Electronics Co. is considering four sites for its $17-billion semiconductor facility, according to Bloomberg.
- In a filing, Samsung told the Texas government the project is “highly competitive” and alternative sites are being evaluated. Prospective sites include one in Austin, two in Arizona, and another in New York.
- Samsung will spend $5.1 billion for buildings and property improvements, and $9.9 billion for machinery and equipment.
- Groundbreaking is likely in the second quarter of 2021 if Austin is chosen as the site, with expectation that production would be running by the fourth quarter of 2023.
- Project Silicon Silver will create about 1,800 jobs in its first ten years according to a study. The economic impact review was prepared by Texas-based consultancy firm Impact DataSource LLC.
- The study also indicates that Samsung would like to continue investing in Austin, Texas because of its strong ties to the local community and success in the last 25 years.
- Earlier reports indicate that the additional facility is in hopes to win more American clients and to narrow the gap with industry leader Taiwan Semiconductor Manufacturing Co.
- Under the leadership of President Joe Biden, the U.S government vows to prioritize the security of the country’s chip supply.