Wall Street Journal: Samsung to increase semiconductor investment in Taylor to $44B

Samsung Electronics said it planned to increase its investment into its latest Texas semiconductor creation.

AUSTIN (KXAN) — Samsung Electronics said it planned to increase its investment in its latest Texas semiconductor creation to approximately $44 billion., according to The Wall Street Journal.

KXAN reached out and a Samsung spokesperson said they will not be able to comment.

In Taylor, where the new semiconductor hub is being built, the funding is expected to go toward building the new chip-making factory, as well as a facility for advanced packaging and research and development, the report states.

According to The Wall Street Journal, Samsung was expected to receive billions of dollars in subsidies from the U.S. Chips Act.

The new investment would add to the $17 billion the company has already put into a chip-making plant.

It is expected the plant will start mass production on chips as early as this summer, and according to past records, the plant was expected to create at least 10,000 new jobs.

In February, a Williamson County judge announced the Samsung plant in Taylor would start operations by July 1 after reports the plant would not start mass production until 2025.

More than two years ago, state leaders announced the project would come to Williamson County. At that time, Gov. Greg Abbott said the facility would create more than 2,000 tech jobs, thousands of indirect jobs and a minimum of 6,500 construction jobs.