The U.S. Department of Commerce is "thrilled" about the news that South Korean-based Samsung will build a new $17 billion semiconductor facility in a Central Texas city, according to a pre-Thanksgiving department news release.
U.S. Secretary of Commerce Gina M. Raimondo issued the statement the day prior to Samsung's own official announcement that it plans to build a new semiconductor manufacturing facility in Taylor, Texas.
"We are thrilled about Samsung's investment in Texas," Raimondo said in the department's Tuesday, Nov. 23 news release. "Domestic semiconductor production is critical to preserving and growing U.S. leadership and innovation in one of our most critical industries. It will also create thousands of good-paying jobs for Texans."
Increasing production of semiconductor chips in the U.S. is critical to the nation's national and economic security, "and we look forward to continued partnership with Samsung and other semiconductor manufacturing companies looking to build out their capabilities in the U.S," Raimondo said.
"Semiconductors underpin our entire economy, and the demand for semiconductors will only continue to increase," she continued. "The U.S. must invest in its domestic manufacturing and R&D capabilities in order to protect our national security, compete globally, create jobs and strengthen our domestic supply chain. Every day we wait is a day we fall further behind."
Raimondo also pushed for quick congressional passage of the U.S. Innovation and Competition Act "to ensure we can make the necessary investments and incentivize more semiconductor facilities to be built here in the U.S."
In its own news release, Samsung said the new manufacturing facility in Taylor will help increase production of advanced logic semiconductors to power innovation and technology.
The new facility will manufacture products that apply to various areas of technology, including mobile, 5G, high-performance computing and artificial intelligence.
Samsung, celebrating 25 years of semiconductor manufacturing in the U.S., is "proud" that its new facility will create more jobs and support local training and talent development, Samsung Electronics Device Solutions Division Vice Chairman and CEO Kinam Kim said in the company's news release.
"As we add a new facility in Taylor, Samsung is laying the groundwork for another important chapter in our future," Kim said. "With greater manufacturing capacity, we will be able to better serve the needs of our customers and contribute to the stability of the global semiconductor supply chain."
The company's announcement followed a joint press conference with Texas Gov. Greg Abbott.
"Companies like Samsung continue to invest in Texas because of our world-class business climate and exceptional workforce," Abbott said. "Samsung's new semiconductor manufacturing facility in Taylor will bring countless opportunities for hardworking Central Texans and their families and will play a major role in our state’s continued exceptionalism in the semiconductor industry. I look forward to expanding our partnership to keep the Lone Star State a leader in advanced technology and a dynamic economic powerhouse."
