Samsung detailed plans for its largest investment in the US as it confirmed it selected a site in Texas as the location for a new $17 billion chip manufacturing facility.
Kim Kinam, vice chairman and CEO of Samsung’s Device Solutions Division, explained in a statement the plant would leave the company in a better position in relation to its customers.
The executive also pitched the move as helping Samsung “contribute to the stability of the global semiconductor supply chain”.
Samsung stated the facility will use advanced processing technologies to produce chips for 5G, high-performance computing and AI applications.
The 5 million square-metre plant is expected to open in the second half of 2024, creating 2,000 high-tech positions and thousands of related jobs once fully operational.
Samsung cited local government backing as one factor in its decision. Another element is the proximity to an existing site in the US state.
The vendor pledged to establish a skills centre in conjunction with local schools, which will offer internships and recruitment opportunities.
Samsung employs more than 20,000 people in the US and has invested $47 billion since commencing operations in 1978.Subscribe to our daily newsletter Back