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Samsung Budgets US$17B To Expand US Chip Production

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Samsung shed more light on a plan to expand its chip manufacturing operation in the US, stating in documents filed with officials in Texas it expected to invest US$17 billion in the project.

The company said anticipated project costs included $5.1 billion on buildings and property improvements, and US$9.9 billion on equipment. It added the plant would “create 1,800 jobs over the first ten years, with initial average annual salaries of US$66,254”.

All told, the project will add 7 million square feet of factory space, which Samsung said was necessary for it to “continue to be a manufacturing leader in the highly competitive electronics industry”.

Samsung is currently negotiating with officials in Texas over potential tax breaks for the project. Bloomberg reported the vendor was also considering alternative sites in Arizona and New York state.

In January, the news outlet tipped Samsung to be eyeing a US$10 billion investment to expand its manufacturing footprint in Texas, noting construction on the facility could begin this year.

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