Waiting for Approval by Municipal Government of Taylor
Samsung Electronics has completed an additional land purchase for the construction of a new foundry in Taylor, Texas of the United States.
The company is now waiting for approval from the municipal government of Taylor for the additional land acquisition. The Korean semiconductor giant purchased two land lots after announcing a plan to build its second foundry in the U.S. in November 2021.
The municipal government of Taylor held a public hearing on July 14 to discuss the inclusion of the two land lots in its Tax Increment Reinvestment Zone (TIRZ). Samsung's existing plant site is included in the TIRZ and eligible for tax breaks. The city will review ordinances to expand and revise the district after 30 days.
Samsung Electronics has decided to build a new foundry here at the cost of US$17 billion to boost its semiconductor production capabilities. The Korean chipmaker announced a plan to start construction in the first half of this year and has already started site maintenance and foundation work. The company was expected to hold a groundbreaking ceremony in June, but delayed it because the attendance of key figures, including Samsung Electronics vice chairman Lee Jae-yong, was unclear. The delay in the passage of a bill for the Semiconductor Industry Promotion Act by the U.S. Senate and House of Representatives was another factor.
The Semiconductor Industry Promotion Act combines semiconductor industry support measures proposed by the United States Innovative Competition Act (USICA) and the American Competition Act (ACA), which were handled by the US Senate and House of Representatives, respectively. The bill proposes to provide US$52 billion to support the semiconductor industry in the U.S.