South Korean electronic products company Samsung said its $17 billion chip-making factory in Texas is expected to generate about 2,000 jobs once it becomes fully operational.
The new facility will boost production of advanced semiconductor, a move that the company believes will mitigate the global chip shortage.
The company claimed it to be the largest investment in the US. The plant will manufacture products for application in the areas of mobile, 5G, artificial intelligence and high-performance computing.
"With greater manufacturing capacity, we will be able to better serve the needs of our customers and contribute to the stability of the global semiconductor supply chain." said Kinam Kim, Vice Chairman and CEO, Samsung Electronics Device Solutions Division.
The construction for the plant will begin in the first half of 2022, and is expected to be operational by the second half of 2024.
The Taylor site is expected to span about 5 million square meters and will serve as a key location for Samsung’s semiconductor manufacturing. Samsung had recently opened a production line in Pyeongtaek, South Korea in May last year.
The new factory will also see Samsung’s total investment in the US touch $47 billion.
Samsung imitated operations in the US back in 1978 and now has about 20,000 employees in the country.
The tech company said it chose Texas for its local semiconductor ecosystem, infrastructure stability and community development opportunities.