Samsung seeks $806 million incentive for Austin chip plant

  • According to documents filed with state officials, a potential $17B Samsung (OTC:SSNNF,OTC:SSNLF) chip plant in Austin, Texas, could create 1,800 jobs.
  • The fab could come with $805.5M in tax abatements over 20 years from Travis County and the city.
  • If Austin is selected for the site, Samsung says construction could begin in Q2 and operations could come online in Q3 2023.
  • In the documents, Samsung says the "project is highly competitive" and other locations up for consideration include Arizona and New York.
  • Samsung already has a fab in Austin that makes computing chips. The new facility would focus on advanced logic devices.
  • Last month, Bloomberg sources said Samsung's Austin fab would produce chips as advanced as 3nm. The facility would also be the first in the U.S. to utilize EUV machines, which create advanced wafers with higher capacity and lower costs.