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Samsung plans to invest $ 17 billion in a new chip factory in the US

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The South Korean electronics giant is looking for locations in Texas, Arizona, and New York for a semiconductor plant.

Samsung plans to invest $ 17 billion in a new chip factory in the US

South Korean Samsung Electronics Co. could invest up to $ 17 billion to build a chip factory in Arizona, Texas or New York, reported The Wall Street Journal citing documents and knowledgeable sources.

The company is considering two sites in and near Phoenix, two more in Austin and a large industrial complex in Genesee County, New York, one source told the newspaper.

An important factor in Samsung's decision to expand production is the US government's incentives to surpass conditions offered by other countries and lower costs in other regions.

The US is assessing the possibility of spending billions of dollars to boost chip production in the country to reduce dependence on supplies from Taiwan, China and South Korea. The new incentive measures were included in the defense budget passed in January, but they have yet to receive funding.

Previously it was reported that due to the trade restrictions of the previous administration of the White House in the United States and a number of other Western countries, there was a persistent shortage of chips for the automotive industry, which are produced in China and Taiwan.

According to last year's report from the Boston Consulting Group, the rise in chip production in Asia in recent decades has driven the US share down to about 12%. The company's analysts note that significant funding is needed to reverse this trend.

Samsung since the 1990s. has a chip manufacturing facility in Austin, Texas. Last year, the company acquired an additional land plot there. Samsung is asking local authorities to relocate the road near the factory.

Discussions on Samsung's incentives have been put on the agenda for Austin and nearby Taylor.

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