TEXAS, USA — It was a major announcement that will impact Texas for decades.
The Biden Administration will award more than $6 billion to South Korea’s Samsung so it can dramatically ramp up its central Texas chip production.
The funding will help Samsung build two chip production facilities, a packaging facility and a research center in Taylor, Texas, east of Round Rock near Austin.
Samsung will also expand its Austin semiconductor facility.
All told the building and expansion would amount to a $45 billion investment in Texas over the next decade.
We asked Congressman Michael McCaul, R-Austin, who co-authored the bill that made the funding possible, just how important this is for Texas.
“I think it’s the biggest technology revolution since the Manhattan Project,” McCaul told us.
The funding comes from the 2022 Chips and Science Act.
And the goal is to make the U.S. the world leader in semiconductor R&D, design and manufacturing, reducing our dependence on China and Taiwan.
You already know first-hand just how important this is, as these chips are in everything you use, from your car to your phone.
When the supply chain broke during the pandemic, it became more difficult for companies to obtain the chips, leading to price increases and product availability delays.
McCaul also says returning chip manufacturing to the U.S. is vitally important for national security, as all of our advanced weapons systems run on these semiconductors.
“If China did, or does, decide at some point to invade Taiwan, and they own 90% of the world’s supply, or break it, we’re going to be in a world of hurt,” McCaul warned.
Other headlines:
