Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Samsung chooses Texas for $17 bln chip plant

11/24/2021 | 05:55am EST

Samsung Electronics has chosen Texas for a new $17 billion chip plant.

The factory will be sited in the town of Taylor, near Austin.

Samsung had also considered locations in Arizona and New York.

But Reuters sources say Texas offered the best incentives.

Governor Greg Abbott said it was a testament to the state's low taxes and benign regulations.

Samsung joins rivals TSMC and Intel in the race to expand chip making in the U.S.

Washington sees the sector as an area of strategic competition with China.

It's earmarked billions of dollars in federal funds to boost U.S. chip output and development.

Samsung hasn't said exactly what its new plant will make.

But analysts expect it to focus on cutting-edge chips for large clients like Qualcomm.

Texas last winter suffered a multi-day power outage that caused millions of dollars of damage to Samsung's existing plant in Austin.

Governor Abbott said he was confident the power grid could support the new facility.


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
INTEL CORPORATION 1.38% 55.7 Delayed Quote.8.16%
QUALCOMM INCORPORATED 2.61% 188.69 Delayed Quote.3.18%
SAMSUNG ELECTRONICS CO., LTD. -0.77% 77300 End-of-day quote.-1.28%
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED 1.66% 672 End-of-day quote.9.27%
Latest news "Economy & Forex"
05:48pUK's Johnson questioned by civil servant on allegations of lockdown breaches - The Telegraph
RE
05:41pSnow, sleet and rain hit southeastern U.S.
RE
05:38pMosque hosts mass funeral for Bronx fire victims
RE
05:02pBiden, Japan PM Kishida to hold bilateral talks on Friday-White House
RE
05:00pUK's Johnson plans to scrap COVID-19 self-isolation law - The Telegraph
RE
04:36pGSK And Pfizer Hold Out For 60 Bln Stg Bid For Consumer Health Unit - FT
RE
04:36pInvestors push for higher price or spin-off after rejecting unilever’s ú50 bln offer- ft
RE
04:33pGsk and pfizer hold out for ú60bn bid for consumer health unit - ft
RE
04:09pSelf-isolation law set to be scrapped in uk in favour of move towards Ĺlearning to live with covid’ - the telegraph
RE
04:04pBiden calls Texas synagogue attack 'act of terror'
RE
Latest news "Economy & Forex"