Samsung has announced its plans to build a $17 billion semiconductor factory in Taylor, Texas, over the next three years due to the shortage of global chip and an effort to enhance its manufacturing capacity.
The tech giant on Tuesday announced the 5 million square meter facility, which will be located just outside Austin.
This facility, with a total expected investment of $17 billion, will be the South Korean company’s largest investment in the United States. This figure includes buildings, property improvements, machinery, and equipment.
Samsung has stated that construction will begin in the first half of 2022, with the site expected to be operational by the second half of 2024.
The factory’s goal is to increase the production of advanced logic semiconductors, which are used in phones and computers, significantly larger than Samsung’s sole other US chip production facility, also in Austin, Texas.
The company said it is also considering sites in Arizona and New York.
The new plant, according to Samsung, would increase manufacturing of high-tech chips used in 5G mobile communications, sophisticated computing, and artificial intelligence, as well as improve supply chain resilience.
Samsung’s operations in the United States began in 1978, and the company now employs over 20,000 employees across the country. Samsung’s overall investment in the United States will now exceed $47 billion, according to the corporation