Tuesday, September 27, 2022
Home > TECHNOLOGY > Samsung Selects Texas for Building its New Chip Plant Worth $17-Billion

Samsung Selects Texas for Building its New Chip Plant Worth $17-Billion

The company ‘Samsung Electronics’ appears to be moving a step close in making a last decision on the site for the new chip manufacturing plant of the company in the United States, as the semiconductor companies across the globe have been engaged in the continuously increasing fierce competition amid the chip shortage across the globe.

The company had also found to withdraw the application, which had filed in the month January 2021 with the Manor Independent School District (ISD) based in Travis County, Texas, US, for the corporate tax incentives regarding the company’s new chip production plant.

The school districts in the state of Texas generally have an important party in the negotiations over the process the building a new plant, and the same kind of the document has been filed in the month of July in 2021 that can still be found on the public site. Both the locations in the state of Texas have been competing against each other for hosting the global the new plant of company across the globe has been believed to be worth 17 billion dollars, and the company does not rule out the other sites based in Arizona and New York.

Samsung Electronics, has also been considering to build a new plant or facility near the already existing based in Austin, that has been opened in the year 1996, and but an power outage, which was caused by a snowstorm or cold wave in the area in the month of February 2021 has been causing the company around millions of dollars in the losses and the company has also raised concerns over a steady supply of the electricity.