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Samsung to invest $291 million in Texas

Samsung to invest $291 million in Texas

Business news |
By Peter Clarke



The Austin city council has approved a resolution designating Samsung’s fab a Texas Enterprise Zone and therefore allowing Samsung to get a refund on its state sales and use tax. Samsung gained the same approval in 2016 when it agreed to invest $1 billion in its Austin wafer fab.

Samsung said this time around it plans to spend $108 million on chipmaking tools and equipment and $183 million on facility renovations.

A local newspaper called The Statesman quoted Samsung spokeswoman Michele Glaze as saying: “We’re very excited to have the city council support it again for a third time. We believe that we’re a vital part of this community.”

Samsung has been in Austin since 1997 and invested more than $17 billion in operations there over that time.

Related links and articles:

www.samsung.com

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