Samsung Semiconductor Plans $4 billion Investment To Renovate Its Austin, Texas System Chip Production Facility
The firm said expansion is needed to meet the rapidly growing demands for logic products. The expanded production facility and fabrication line, located at Farm-to-Market Road 734 and Samsung Boulevard, will mainly produce state-of-the-art mobile system chips and integrated circuits.
With construction expected to begin this month, mass production of chips is scheduled to begin within the second half of 2013. The expansion will provide jobs for about 2,500 construction workers and equipment vendors to retrofit the facility and set up the equipment, Samsung officials said.
Dr. Woosung Han, president of Samsung Austin Semiconductor said, "We are extremely pleased to extend our presence in Austin and reinforce Samsung's capacity for highly advanced logic products. The added ability in production will allow our customers to better respond to market needs."
Samsung's latest investment marks the largest single foreign investment ever made in the state of Texas, the firm said. The company's total investment in Samsung Austin Semiconductor since 1996 will exceed $13 billion.
While job creation estimates and information on incentives offered the firm was not immediately available, the most recent expansion could be covered by previous incentive and job creation agreements with the city of Austin and Texas Enterprise Fund grant. In 2006 a $10.8 million grant from The Texas Enterprise Fund helped persuaded Samsung to open its semiconductor facility in Austin and create hundreds of jobs.
Dave Porter, senior vice president of Economic Development, Austin Chamber of Commerce, said; "We are honored once again that Samsung has decided to invest in their Austin plant. This expansion speaks well for the great relationship between Samsung, the City, County, Manor ISD and the State."
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