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President Biden on Monday morning announced up to $6.4 billion in grants to Samsung for the South Korean company to expand chip production in the Austin area.
The massive Biden-led investment in chip production aims to reduce dependence on China and Taiwan, and gives the administration a permanent legacy across the U.S.
The preliminary agreement with the Commerce Department "will unleash over $40 billion in investment from Samsung, and cement central Texas's role as a state-of-the-art semiconductor ecosystem, creating at least 21,500 jobs and leveraging up to $40 million in CHIPS funding to train and develop the local workforce," the White House announcement said.
The massive Biden-led investment in chip production aims to reduce dependence on China and Taiwan, and gives the administration a permanent legacy across the U.S.
The preliminary agreement with the Commerce Department "will unleash over $40 billion in investment from Samsung, and cement central Texas's role as a state-of-the-art semiconductor ecosystem, creating at least 21,500 jobs and leveraging up to $40 million in CHIPS funding to train and develop the local workforce," the White House announcement said.
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Posted from axios.comPosted in these groups: 
State of Texas
JobsU.S. Department of Commerce
ComputersSamsung Austin Semiconductor
State of Texas JobsU.S. Department of Commerce ComputersSamsung Austin Semiconductor
Edited >1 y ago
Posted >1 y ago
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