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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 8 mo ago
Posted 8 mo ago
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I believe we need to reinvest in manufacturing in America. Our goal should be self reliance
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Just East of Columbus they are building a Chip production facility which will also help reduce dependence on foreign chip manufacturers.
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The strategic defense initiative to support US manufacturing industries that are currently supplied by facilities overseas.
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