One of the largest electronics manufacturers in the world – the South Korean giant Samsung, has decided to take a serious step towards becoming a leader in the chip market.
The company announced in August its plans to increase its investments by a third to 205 billion dollars over the next three years, and most of them will go in the direction of semiconductor development, as Money.bg wrote at the time.
For their part, they have become one of the most scarce products in the world due to the increased demand for electronics during the health crisis with COVID-19. The lack of chips created delays in production and supply in a number of industries, the most affected of which was the automotive industry.
Samsung will invest $ 200 billion over the next three years
The plan comes a week after the group’s de facto leader was released from prison
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However, it is certain that the demand for semiconductors will continue to grow in the coming years and Samsung is preparing for this – with a large investment in a new plant. According to Reuters, the South Korean giant has stopped at two locations in the United States, from which to choose the final destination for the facility for 17 billion dollars. Both are located in the state of Texas – the capital Austin and the city of Taylor. Options have been considered for both New York and Arizona.
However, Taylor’s big advantage so far is that he plans to provide the company with serious tax breaks. They amount to a reduction of 92.5% in property tax for the first 10 years, 90% for the next 10 years and another 85% for the third decade. The relief was announced in a resolution on the local government website.
The potential attraction of Samsung’s plant will provide $ 17 billion in direct investment in the city and more than 1,800 new jobs. The city of Taylor itself has only 17,000 permanent residents and is located 40 km from the state capital and a competitor for investment. Already in the initial negotiations with the state of Texas, the company announced that they want to start construction of the factory next year with the ambition to start production in 2024.
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