Posted on Nov 23, 2021, 5:21 PMUpdated Nov 23, 2021, 6:24 PM
Samsung is consolidating its industrial presence in the United States and Texas. The Korean group, world number one in electronics, was to announce on Tuesday the choice of the town of Taylor, northeast of Austin, to build its new foundry, according to the American press. The project, announced several months ago, is valued at $ 17 billion. It plans to start production at the end of 2024, with 1,800 employees. The terms of the investment have been discussed in recent days during a visit to the United States of the boss of the conglomerate, Jay Y. Lee. The latter, convicted of corruption in January, was granted parole this summer.
If the location is confirmed, the new semiconductor plant will be only forty kilometers from Samsung’s first location in the United States, located in Austin (Texas) for twenty-five years. While other states such as New York and Arizona were in competition, the small town of Taylor and Williamson County proposed to largely exempt Korean from local taxes.
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