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December 23, 2024 | U.S. Department of CommerceEstimated reading time: 3 minutes
The Biden-Harris Administration announced that the U.S. Department of Commerce awarded Samsung Electronics (Samsung) up to $4.745 billion in direct funding under the CHIPS Incentives Program’s Funding Opportunity for Commercial Fabrication facilities. The award follows the previously signed preliminary memorandum of terms, announced on April 15, 2024, and the completion of the Department’s due diligence. This funding will support Samsung’s investment of over $37 billion in the coming years to turn its existing presence in Central Texas into a comprehensive ecosystem for the development and production of leading-edge chips in the United States, including two new leading-edge logic fabs and an R&D fab in Taylor, as well as an expansion to their existing Austin facility. The Department will distribute the funds based on Samsung’s completion of project milestones.
“With this investment in Samsung, the U.S. is now officially the only country on the planet that is home to all five leading-edge semiconductor manufacturers. This is an extraordinary achievement, which will ensure we have a steady, domestic supply of the most advanced semiconductors that are essential to AI and national security, while also creating tens of thousands of good-paying jobs and transforming communities across the country,” said U.S. Secretary of Commerce Gina Raimondo. “Thanks to the bipartisan CHIPS and Science Act, we are unleashing the next generation of innovation, protecting our national security, and enhancing our global economic competitiveness.”
“With today’s award, the United States will be the only country that has manufacturing fabs from all 5 leading-edge semiconductor companies. The manufacture of leading-edge semiconductors is a critical part of the supply chain for advanced AI and other leading technologies,” said National Economic Advisor Lael Brainard. “Today’s award unleashes nearly $37 billion in manufacturing investments from Samsung, which is the only semiconductor company that is a leader in both advanced memory and advanced logic chips.”
By continuing to develop the technologies of the future in the United States, Samsung is taking steps that would work towards strengthening U.S. economic and national security and increasing the resilience of both the U.S. and global semiconductor supply chains. The size and scope of Samsung’s investment demonstrates its ongoing commitment to the United States, where it has been manufacturing chips since 1996. The CHIPS investment would support the creation of approximately 12,000 construction jobs and more than 3,500 manufacturing jobs within the next five years, while stimulating regional commercial growth, leveraging the robust two-year and four-year academic footprint in the state to produce the skilled workers needed to fill the critical roles created by the investment.
“With nearly 30 years of semiconductor manufacturing experience in the United States, we are proud and grateful for the long-standing relationships we have established with our American partners and customers, as well as communities across Texas,” said Young Hyun Jun, Vice Chairman and CEO of Device Solutions Division at Samsung Electronics. “Our agreement with the U.S. Government today under the CHIPS and Science Act represents another milestone as we continue to invest and build a state-of-the-art semiconductor ecosystem in the U.S. We look forward to further collaboration with our American partners to meet the evolving needs of the upcoming AI-driven era.”
For more information about the award, please visit the CHIPS for America website.
As stated in the CHIPS Notice of Funding Opportunity for Commercial Fabrication Facilities, CHIPS for America will distribute direct funding to recipients for capital expenditures based on the completion of construction, production, and commercial milestones. The program will track the performance of each CHIPS Incentives Award via financial and programmatic reports, in accordance with the award terms and conditions.
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