The U.S. Commerce Department announced Monday $6.4 billion in grants to the South Korea-based Samsung electronics company to help fund a new chip-manufacturing hub in Taylor, Texas, and to expand an existing facility in nearby Austin.
In a White House statement, U.S. President Joe Biden said the grants — part of the 2022 CHIPS and Science Act, passed by Congress — will help Samsung increase its investment in Texas to more than $40 million and create more than 20,000 jobs.
In his statement, Biden said “these facilities will support the production of some of the most powerful chips in the world, which are essential to advanced technologies like artificial intelligence and will bolster U.S. national security.”
The Commerce Department reports the new Samsung facility in Taylor will include a new research and development facility, as well as factory for advanced packaging, the…
