Samsung has been in talks with the US Government for a long, to get a subsidy for its new chip plant in Texas, and now seems to be the time for a result. A recent report hints that, the US Government could offer around $6.6 billion subsidy to ramp up Samsung Texas chip fab.
Samsung Texas chip plant to get $6.6 billion subsidy
As per the Reuters report, US Government plans to offer a whopping $6.6 billion subsidy to Samsung for expanding its chip production in Taylor, Texas. The subsidy provided by the US Government will benefit the Korean tech giant and also have a significant impact on the local economy.
As, the amount of subsidy will be used in the construction of four different facilities in Taylor, US. Among which $17 billion will go for chip fabrication. While the second and third portions might be utilized for an advanced packaging facility and an R&D (Research and Development) center.
Whereas, the fourth location of the investment is currently unknown. However, by offering this subsidy, the US Government is prioritizing national security and the economy. As, Samsung will double its US investment to over $44 billion as part of the deal, reveals a source.
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Overall, the decision of the US government to offer South Korean tech firm, a subsidy to run its chip plant in Texas is a significant investment. As, this move will form jobs, increase economic growth, and promote innovation and competitiveness.
