April 15, 2024
DALLAS – U.S. Senator John Cornyn (R-TX) expressed his approval following the announcement of a significant funding agreement for Samsung Electronics Co. in Texas. The U.S. Department of Commerce and Samsung have agreed to provide up to $6.4 billion in direct funding under the CHIPS and Science Act, a move aimed at revitalizing semiconductor manufacturing in the United States.
"By investing in leading-edge semiconductor manufacturing, we are helping secure this vulnerable supply chain, boosting our national security and global competitiveness, and creating new jobs for Texans," Senator Cornyn stated. He highlighted the importance of this investment in advancing chipmaking capabilities at Samsung, which includes advanced packaging and research and development. The senator emphasized that this initiative will play a crucial role in restoring the U.S.'s leadership in the semiconductor industry.
The funding agreement stems from the CHIPS for America Act, legislation authored by Senator Cornyn to bring semiconductor manufacturing back to American soil. This act, now law, aims to stimulate advanced chip manufacturing, support research and development, secure the supply chain, create jobs, and ensure national security.
In 2021, Samsung announced a $17 billion project in Taylor, Texas, to advance semiconductor manufacturing. This recent funding commitment of $6.4 billion further bolsters Samsung's investment in the state, with plans totaling more than $40 billion in the near future. The expansion includes the development of a new semiconductor factory and an advanced packaging facility focused on research and development.
Governor Abbott's signing of the Texas CHIPS Act in June 2023 complements this federal initiative, reinforcing Texas' position as a key player in the semiconductor industry.
The collaboration between the U.S. Department of Commerce, Samsung, and the support from Senator Cornyn underscores a concerted effort to enhance semiconductor manufacturing in Texas, ultimately contributing to the growth and competitiveness of the industry in the United States.