The US government announced this Monday that it will provide up to US$ 6,400 million in direct investment so that the firm Samsung develop a large manufacturing plant semiconductors in Texas.
The Commerce Department statement indicated that the preliminary memorandum of terms with that allocation complements more than $40 billion in private investment for the industrial complex in Taylor, northeast of Austin, Texas.
These investments, according to the government, will support the creation of at least 21,500 jobs (17,000 construction jobs and 4,500 manufacturing jobs) and are framed in a Semiconductor and Science Act that Biden signed into law in 2022.
The legislation allocated $39 billion in subsidies to encourage American and foreign firms to build plants and manufacture products in the United States.
The government has already allocated a total of about $23 billion, including a $6.6 billion subsidy announced last week for the firm. ‘Taiwan Semiconductor Manufacturing’ or TSMC, of Taiwan, to expand its operations in Arizona.
These initiatives “will be a catalyst for continued private sector investments that ensure the stability we need to put the US at the beginning of our semiconductor supply chain”Commerce Secretary Gina Raimondo said in a statement.
“The semiconductors that Samsung will be manufactured in Texas are important components for our most advanced technologies, from artificial intelligence to high-performance computing and 5G communications”, added the official.
The investment will increase the capacity of a semiconductor plant already under construction in Taylor and add a second factory and a new research and development center by the end of the decade.
Likewise, Samsung will build a plant “advanced packaging” which brings together the different semiconductors and electronic components and leaves them ready for installation and use in telephones, airplanes and a wide variety of appliances and machinery.
Normally, this last packaging task was done in countries like Taiwan and is a great advance to maintain the entire production line of these strategic products within the United States.
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Source: Gestion
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