Electronic giant Samsung announced last week that it will build a new semiconductor manufacturing facility in the Central Texas town of Taylor, about 40 miles northeast of Austin. The $17 billion investment will be the largest foreign direct investment in Texas to date and brings the company’s total investment in the state to $35 billion.
Samsung already operates a facility in Austin, its lone U.S. manufacturing plant. The deal was helped along with a $27 million Texas Enterprise Fund grant, according to Gov. Greg Abbott’s office. In addition, city, county and school district officials put together incentive packages worth of hundreds of millions of dollars, according to the Austin American-Statesman.
The project will create more than 2,000 high-tech jobs, thousands of indirect jobs and at least 6,500 construction jobs. Construction is slated to begin early next year with a target completion date in the second half of 2024.
