Samsung Electronics is set to receive up to $6.4 billion in direct funding as part of the CHIPS and Science Act, according to an announcement made during U.S. Secretary of Commerce Gina Raimondo’s visit to Samsung’s new semiconductor manufacturing facility in Taylor, Texas, on April 15.
The event was attended by Samsung Semiconductor CEO Kye Hyun Kyung and Secretary Raimondo. The funding aims to help Samsung expand its operations in Central Texas, creating additional manufacturing capacity for chips used across various industries including automotive, consumer technology, IoT, and aerospace.
Kyung emphasized the broader impact of this investment: “We’re not just expanding production facilities; we’re strengthening the local semiconductor ecosystem and positioning the U.S. as a global semiconductor manufacturing destination.” He also noted that the facilities will be equipped with advanced technologies to meet future demand for products like AI chips, enhancing security within the U.S. semiconductor supply chain.
Samsung has been a significant economic contributor in Texas since 1996, investing $18 billion into its Austin campus. In 2021, it announced plans for a $17 billion expansion into Taylor to build a new semiconductor facility. With this latest funding from the CHIPS and Science Act, Samsung’s total investment in the region is expected to exceed $40 billion over the coming years. This marks one of the largest foreign direct investments for a greenfield project in U.S. history and is poised to transform Taylor into a major hub for semiconductor manufacturing.
