Gina M. Raimondo, Secretary of Commerce | Ballotpedia
The Biden-Harris Administration has announced a significant development in the U.S. semiconductor industry with Samsung Electronics receiving up to $4.745 billion in funding from the Department of Commerce under the CHIPS Incentives Program. This financial support is part of Samsung's planned investment exceeding $37 billion to expand its operations in Central Texas, which includes building two new leading-edge logic fabs and an R&D fab in Taylor, as well as enhancing its existing Austin facility.
Gina Raimondo, U.S. Secretary of Commerce, highlighted the strategic importance of this investment: "With this investment in Samsung, the U.S. is now officially the only country on the planet that is home to all five leading-edge semiconductor manufacturers." She emphasized that this achievement will ensure a steady domestic supply of advanced semiconductors vital for AI and national security while creating thousands of jobs across various communities.
National Economic Advisor Lael Brainard noted, "With today’s award, the United States will be the only country that has manufacturing fabs from all 5 leading-edge semiconductor companies." She pointed out that Samsung's nearly $37 billion investment would bolster manufacturing capabilities for both advanced memory and logic chips.
Samsung's ongoing commitment to U.S.-based chip production dates back to 1996. The current expansion plan is expected to create approximately 12,000 construction jobs and over 3,500 manufacturing jobs within five years. Young Hyun Jun, Vice Chairman and CEO of Device Solutions Division at Samsung Electronics, expressed gratitude for partnerships established over decades: "Our agreement with the U.S. Government today under the CHIPS and Science Act represents another milestone as we continue to invest and build a state-of-the-art semiconductor ecosystem in the U.S."
The CHIPS for America program aims to distribute direct funding based on project milestones related to construction and production activities. Since its inception under President Biden and Vice President Harris's administration, it has allocated over $32 billion out of more than $36 billion proposed incentives funding across 21 states—efforts anticipated to generate over 125,000 jobs nationwide.
For further details on this award or other initiatives by CHIPS for America visit their website.
