Tuesday, November 1, 2016

Samsung To Invest More Than $1 Billion In Austin Facility

Samsung Austin Semiconductor LLC said this morning that it plans to invest more than $1 billion in the first half of 2017 in its facilities, to enhance the production capabilities of its location in Austin. According to Samsung, the investment goes to support demands for advanced system-on-chip (SoC) products especially for mobile and other electronic devices. Samsung established the semiconductor plant in 1997, and says it has invested more than $16 billion for expansion and maintenance of its Austin facility since then. The company cited studies saying that it added $3.6 billion into the regional economy of Central Texas in 2015, and supported 10,755 jobs in the area and $498 million in annual salaries. The company employs around 3,000 at its semiconductor manufacturing facility in Austin.