Samsung Pitches $17B Chip Plant in Texas

The company is asking for more than $800 million in tax abatements.

Samsung Electronics could soon expand in Austin, Texas.

The city is being considered for a $17 billion chip plant that could create 1,800 jobs, according to Reuters.

The plan calls for a 7 million-square-foot facility on a 640-acre site that Samsung already owns.

To win the business, Samsung is asking the city and county for $805.5 million in tax abatements over 20 years. 

The company wants to break ground as soon as Q2 of 2021 and production could start as soon as Q3 of 2023. 

Samsung is also considering sites in Arizona, New York and Korea because of access to talent, chip ecosystem and speed to market.

The new facility would manufacture "advanced logic devices," which are smaller, faster computing chips.

The company currently has an Austin plant that produces computing chips.

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