Biden’s 2022 CHIPS & Science Act brings a $40 billion investment from Samsung to Texas

On April 15, the White House announced that Samsung and the Department of Commerce have reached a preliminary agreement to bring Samsung’s advanced semiconductor manufacturing and research and development to Texas.

In exchange for $6.4 billion in direct U.S. funding, Samsung has agreed to develop a $40 billion computer chip manufacturing and research cluster in Taylor, Texas, creating at least 21,500 jobs and leveraging up to $40 million in CHIPs funding to train and develop a local workforce.

See the full story in Newsweek here:

https://www.newsweek.com/joe-biden-texas-40-billion-win-samsung-investment-today-1890255?refcode=2024_apr_biden_e1_tx_txdems&emci=0909e22d-d6fc-ee11-aaf0-7c1e52017038&emdi=38d5c179-fdfc-ee11-aaf0-7c1e52017038&ceid=17714234