Governor Abbott Statement On Samsung Expanding Investment In Texas
AUSTIN – Governor Greg Abbott today issued a statement following Samsung Electronics, Co., Ltd.’s (“Samsung”) decision to potentially increase their historic investment in Texas to include 11 new semiconductor manufacturing facilities in Taylor and Austin. Last year, Governor Abbott announced Samsung’s initial plan to invest $17 billion in the construction of one new semiconductor manufacturing facility in Taylor.
“Close partnerships with companies like Samsung — who recognize the boundless possibilities Texas has to offer — are bringing greater opportunities to Texans, and this potential investment will bring billions of additional capital to continue growing our world-class business climate and diverse, highly-skilled workforce. These new facilities solidify the Lone Star State as the nation’s leader in the semiconductor industry, and I thank Samsung for increasing their investment in the hardworking people of Central Texas.”
A major factor for this potential investment by Samsung is the passage of the Creating Helpful Incentives to Produce Semiconductors for America (CHIPS) Act, which is currently under consideration by the United States Congress.