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This Little Texas Town Bagged The $17 Bln Samsung Chip Plant


11/25/2021


This Little Texas Town Bagged The $17 Bln Samsung Chip Plant
Prior to the Korean conglomerate, Samsung made the announcement that it would be building a new semiconductor chip factory worth $17 billion, very few people in the United States knew the name of the small town of Taylor in Central Texas, said Williamson County Judge Bill Gravell.
 
Local, state, and federal authorities gave wholeheartedly welcomed the Electronics Co Ltd and have hailed the project, which is planned to manufacture advanced high-performance semiconductor chips, as being a crucial advancement in bolstering domestic American chip supply and reducing reliance on Chinese factories for these very critical components of electronic equipment as well as cars among other products.
 
"Today, Taylor, Texas might be better known around the world than any other city in central Texas," Gravell, the county's top elected official, said during a Wednesday interview.
 
Direct coordination between Texas Governor Greg Abbott's office and Gravell’s office was responsible for the success of bringing in Samsung to choose this small town for its factory, Gravell said and added that Abbott had personally got involved in the negotiations so that the town of Taylor was able to ensure abundant electricity supply from Sempra Energy's Oncor Electric Delivery Co for the planned chip factory.
 
Earlier this year, a meeting was held between Samsung President Jung-bae Lee and Oncor's Chief Executive Allen Nye in Austin which was aimed at assuring the electronics giant that no power outages were suffered by industrial users on Oncor's network during the massive snowstorm that hit the Texas region last winter, Gravell said.
 
Gravell said that a deal has also been inked between Canadian EPCOR Utilities Inc and Samsung for the construction of a water supplying pipeline for the factory which will bring in water required for manufacturing of chips from Alcoa situated 25 miles (40 km) east of Taylor.
 
"This plant will not affect any existing water sources, it's a brand new water source brought in by Samsung," he said.
 
State authorities from the economic development department, according to the county judge, also assisted him in navigating foreign business meetings, proposing a book on Asian culture to him.
 
"I wasn't necessarily sure how to negotiate with Koreans, I've never had that experience before," Gravell said. "I studied up and learned the chapters by heart." read more
 
Apart from sophisticated logic chips that may be utilized to power mobile devices and driverless cars, Samsung has not revealed what the new factory would produce.
 
According to Gravell, corporate officials informed him that they don't know the technical details of the chips that would be created at the new facility yet because today's technology may be obsolete in a few years.
 
The factory, which is expected to create 2,000 high-tech jobs, will begin production in the second half of 2024, according to Samsung.
 
(Source:www.nasdaq.com)


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