~ In a recent meeting at the Texas Capitol, Governor Greg Abbott announced that Samsung Austin Semiconductor, LLC (Samsung) has been granted $250 million from the Texas Semiconductor Innovation Fund (TSIF) for their semiconductor fabrication facility in Taylor. This grant is part of a larger project that includes over $4.73 billion in capital investment.

Governor Abbott expressed his excitement about the future of technology and innovation in Texas, stating that with approximately $40 billion already invested in the state by Samsung, they are helping to solidify Texas' position as the leading state for semiconductor manufacturing. He also emphasized the positive impact this investment will have on local communities and job creation for Texans.

Samsung's investment of $4.73 billion will go towards a new initiative at their Taylor facility, which is part of their onshoring strategy and transition to manufacturing 2-nanometer leading-edge logic chips. These chips are crucial for powering next-generation technologies such as 5G, artificial intelligence (AI), and high-performance computing.

More on TelAve News

• Strategic Partnerships with Defiant Space Corp and Emtel Energy USA Powerfully Enhance Solar Tech Leader with NASA Agreements: Ascent Solar $ASTI
• 120% Revenue Surge with Four Straight Profitable Quarters Signal a Breakout in the Multi-Billion Dollar Homebuilding Market: Innovative Designs $IVDN
• Leading Venture Capital Firms Recognize Wzzph Exchange's Technical Architecture and Security Framework as Industry Benchmark
• DivX Unveils Major DivX Software Update: Seamless Video Sharing and Customizable Playback Now Available
• Nespolo Mechanical Helps New Mexico Families Save Thousands on Heating Costs This Fall

This announcement comes after Governor Abbott's previous announcement in November 2021 of Samsung's multi-billion dollar investment to construct the Taylor facility, which is currently the largest foreign direct investment in Texas.

Young Hyun Jun, Vice Chairman and Head of Device Solutions (DS) Division at Samsung Electronics, expressed gratitude towards the State of Texas and Governor Abbott for this significant grant award. He also stated that this grant will ensure their Taylor facility can deliver the most advanced technology to their global customers while reinforcing the chip supply chain in the U.S.

Governor Abbott also met with Samsung executives at their semiconductor campus in Pyeongtaek, South Korea in July 2024 to discuss further investments and collaborations.

Senator Charles Schwertner praised Samsung's continued investment in Texas, stating that it will have lasting benefits for the state's economy and workforce. He also highlighted how this grant will strengthen America's chip supply chain and create thousands of high-quality jobs for Central Texans.

More on TelAve News

• Leading Digital Finance Platform YNQTL Launches Revolutionary Web3 Digital Asset Trading Platform
• IDCXS Addresses Crypto Trading Pain Points with 2 Million TPS Processing and Multi-Layer Security Architecture
• Bridging Traditional Finance and Web3 Innovation: BLFCW Announces Strategic Vision for Regulated Web3 Economy
• NKSCX Responds to "Coordinated Smear Campaign" as Anonymous Critics Emerge Following Regulatory Milestones
• Broadway Gala Honored Also an Italian

Representative Caroline Harris Davila also expressed her pride in representing Taylor and neighboring communities in Central Texas, where this project has already created tens of thousands of jobs and billions in economic activity. She emphasized the importance of this investment in strengthening America's national security, advancing AI innovation, and securing a resilient supply of advanced microchips.

Governor Abbott signed the Texas CHIPS Act into law in 2023 to establish the TSIF and the Texas Semiconductor Innovation Consortium (TSIC). These programs, administered by the Texas CHIPS Office, aim to leverage Texas' investments in the semiconductor industry, encourage companies to expand in the state, develop expertise and capacity at Texas institutions of higher education, and maintain Texas' position as the nation's leader in semiconductor manufacturing.

With this latest grant to Samsung, it is clear that Governor Abbott and the state of Texas are committed to fostering a thriving semiconductor industry and maintaining their position as a global leader in technology and innovation.

---

Show All News | Report Violation