As the global shortage of chips keeps persisting, the South Korean electronics giant Samsung and the American electric vehicle company Tesla have moved into building the hometown of semiconductors.
The report revealed that Texas Governor Greg Abbott has announced on December 5th that the state will become a concentration of semiconductor manufacturing in the future when there is a shortage of chips.
In his wordings Texas Governor Greg Abbott said : “In the past ten or two decades, the United States has made a mistake by outsourcing the production of all necessities, including semiconductors and urgently needed medical supplies. We should not rely on other countries to meet our needs. Basic needs. This is also the reason why Texas is leading the trend. Being the home of semiconductors can meet people’s daily needs. Everything from electronic devices to the production of automobiles is inseparable from semiconductors.”
Recall that last month South Korean electronics giant announced plans to establish a $17 billion semiconductor factory in the south of Austin, Texas, amid a global shortage of chips used in cars, phones, tablets, video game consoles, and other electronic devices.
In unveiling the project, Governor Greg Abbott remarked, “This is the largest foreign direct investment in the state of Texas ever.”
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Samsung stated that construction on the project will begin next year, with operations expected to commence in the second half of 2024.
According to the vice president and chief executive officer of Samsung’s electronic device solutions division, Kinam Kim estimated that if the Taylor plant is fully operational, it is expected to directly create more than 2,000 high-tech jobs and create thousands of related jobs.
Texas has recently taken steps in this direction, absorbing a large number of business investments and settlements.
Tesla has just stated that it will relocate its headquarters from California to a freshly constructed mega plant in Austin, Texas. Abbott also referenced data to show that 70 companies relocated their headquarters to Texas in the first 11 months of 2021, implying that the new headquarters will be situated in Texas every five days on average.
Abbott underlined that businesses have been flocking to Texas because it is a land rich in economic possibilities and innovation, with no restrictions on personal liberty.