(FixThisNation.com) – On Monday, the federal administration announced a $40 billion agreement with Samsung.
As part of the deal, Samsung is planning to make an over $40 billion investigation across Texas in order to assist with their semiconductor chip manufacturing facilities across the state. This is the latest agreement to result from the CHIPS and Science Act, a bipartisan law that had been signed in 2022.
With the construction of new facilities in Austin and Taylor, the Biden administration has argued that they are expecting more than 20,000 manufacturing and construction jobs to be created in the area.
President Biden released a statement in which he argued that this investment by Samsung, would ensure that Texas would have a place in the semiconductor ecosystem. He added that they would be making at least 21,500 jobs and using the CHIPS funding of $40 million would focus on training the local workforce. As he pointed out, powerful chips and their manufacturing is going to help strengthen U.S. national security as well as advanced technologies, including artificial intelligence.
The investment is going to allow the existing facility in Austin to further expand and include the manufacturing of chip technology that is used in automobiles as well as in the defense and aerospace industries. In Taylor, the investment is going to allow for a comprehensive advanced manufacturing system to be created which will give Samsung the ability to create chips for research and development in advanced packaging.
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