The announcement is expected at Tuesday event to be attended by Texas Gov. Greg Abbott, sources say
Samsung Electronics Co. plans to build a roughly $17 billion chip-making plant in Taylor, Texas, according to people familiar with the matter, a mega investment by the South Korean tech giant, as the Biden administration pushes for an expansion of U.S. semiconductor production.
An announcement could come as early as Tuesday, people familiar with the matter said. Gov. Greg Abbott is scheduled to make an “economic announcement” Tuesday at 5 p.m. local time.
The Taylor facility, located in central Texas, plans to create around 1,800 jobs, though chip production is not expected to start until the end of 2024, according to documents Samsung had previously filed with Texas authorities. To woo Samsung, Taylor had offered incentives that include the equivalent of property-tax breaks of up to 92.5% for the first 10 years, with the write-offs gradually declining over the next several decades.