Samsung officially announced that it will build a new chip factory in the US for $17 billion

Samsung Electronics officially announced on Tuesday that it will build a new advanced chip manufacturing plant in Tyler, Texas. The factory costs approximately US$17 billion and will create 1,800 jobs.

The new factory is about 30 miles (about 48 kilometers) from Samsung's existing factory in Austin and covers an area of ​​about 1,200 acres, which is larger than the Austin factory. Taylor City will provide Samsung with incentives to build factories and provide more than 90% of real estate tax relief in the first ten years.

Samsung plans to start construction next year and start producing chips in 2024. Samsung expects to use the new factory to produce chips for its own and other companies' products.

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