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The U.S. government will provide $6.4 billion in funding through CHIPS and the Science Act to partner with Samsung Electronics to help establish a semiconductor ecosystem in Central Texas.
The Commerce Department announced Monday that the electronics company will invest more than $40 billion over several years under a non-binding preliminary memorandum of understanding signed with Samsung.
The proposed investment would benefit several projects in two locations in Texas.
The City of Taylor is slated to build two logic foundry plants, a research and development plant, and an advanced packaging facility. The City of Austin plans to expand an existing facility that can produce technology critical to a variety of U.S. industries.
Under this partnership, Samsung also committed to working with the Department of Defense.
According to U.S. Secretary of Commerce Gina Raimondo, investments in CHIPS and Science Act, such as those with Samsung, will help “continue the private sector to help ensure the long-term stability needed to keep the United States at the front of the semiconductor supply chain.” ‘and protect our strong resilient ecosystems here at home.’ ”
Kye Hyun Kyung, President and CEO of Samsung Electronics’ Device Solutions Division, said: We are strengthening the local semiconductor ecosystem and positioning the United States as a global semiconductor manufacturing destination. ”
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