The Department of Commerce announced a preliminary agreement today for up to $6.4 billion in direct funding under the CHIPS and Science Act for Samsung Electronics to bring advanced semiconductor manufacturing and research and development (R&D) to central Texas.
President Biden signed the CHIPS and Science Act into law in August 2022, making up to $52 billion of funding available to incentivize semiconductor makers to establish new manufacturing operations in the United States.
Samsung expects to invest over $40 billion on its own in the central Texas region in the coming years, and the Commerce Department said today that the proposed $6.4 billion award would help create over 20,000 jobs.
Specifically, the investment would support Samsung’s existing presence in Texas and turn it into a “comprehensive ecosystem” for semiconductor development and production in the U.S. The…
