The Biden administration has reached an agreement to provide up to $6.4 billion in direct funding for Samsung Electronics to develop a computer chip manufacturing and research cluster in Texas.
The funding announced Monday by the Commerce Department is part of a total investment in the cluster that, with private money, is expected to exceed $40 billion. The government support comes from the CHIPS and Science Act, which President Joe Biden signed into law in 2022 with the goal of reviving the production of advanced computer chips domestically.
“The proposed project will propel Texas into a state of the art semiconductor ecosystem,” Commerce Secretary Gina Raimondo said on a call with reporters. “It puts us on track to hit our goal of producing 20% of the world’s leading edge chips in the United States by the end of the decade.”
Raimondo said she expects the project will create at least 17,000 construction jobs and more than 4,500 manufacturing jobs.
Hey guys, I found reagans welfare queen. Her name is samsung, sounds foreign. Is she even a u.s. citizen?
Foxconn should have been a warning not an example.
Are you referring to the plant in Wisconsin where they used eminent domain to kick out a whole neighborhood full of families after secret backroom deals, gave them a guaranteed tax break regardless of them keeping their promises or not, and then act shocked when Foxconn did a 180 on the entire project and only hired a fraction of the promised amount doing low skill, low paying work?
Yes.