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03 Mar 2021 | 12:13

Samsung considers four US sites for $17bn chip plant

(Sharecast News) - Samsung Electronics is considering two sites in Arizona, one in New York and another in Texas for a new $17bn chip manufacturing plant. According to documents filed with Texas state officials and reported by Reuters, there are estimated tax abatements concerning the plant.

These will be about $1.48bn over 20 years from Travis County in Texas and the city of Austin.

Samsung is also in talks with the other sites at Arizona and in New York, with each offering property tax abatement and "significant grants and/or refundable tax credits" to fund infrastructure improvements, the documents said.

The new plant is intended to produce "advanced logic devices" for Samsung's chip contract manufacturing business and will create 1,800 jobs. It's clients include Tesla, Qualcomm and Nvidia.

Samsung already has a chip plant in Austin which is set to resume production after winter storms hit the US in February.
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