{"id":68000,"date":"2024-02-20T10:00:32","date_gmt":"2024-02-20T15:00:32","guid":{"rendered":"https:\/\/news.samsung.com\/us\/?p=68000"},"modified":"2024-02-20T10:14:41","modified_gmt":"2024-02-20T15:14:41","slug":"samsung-austin-semiconductor-announces-2023-economic-impact-of-26-8b-into-central-texas","status":"publish","type":"post","link":"https:\/\/news.samsung.com\/us\/samsung-austin-semiconductor-announces-2023-economic-impact-26-8b-central-texas\/","title":{"rendered":"Samsung Austin Semiconductor Announces 2023 Economic Impact of $26.8B into Central Texas"},"content":{"rendered":"

Samsung Austin Semiconductor<\/a>, a world leader in advanced semiconductor technology, today released its 2023 Economic Impact Report\u2014a comprehensive third-party report that highlights $26.8 billion in economic contribution and impact generated through operations of the Austin fab and the construction of the future manufacturing facility in Taylor.<\/p>\n

\u201cTexas is the No. 1 state for semiconductor manufacturing in the nation, thanks to partners like Samsung who contribute so much to our economy and communities in Central Texas and beyond,\u201d said Governor of the State of Texas, Greg Abbott. \u201cToday\u2019s announcement is a testament to the incredible work Samsung and Texas have done to accelerate growth and innovate in semiconductor manufacturing, creating thousands of good-paying jobs for Texans and contributing billions to the Texas economy. There is no better place to innovate than Texas, and we thank Samsung for choosing to grow and expand in our great state.\u201d<\/p>\n

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\u201cI\u2019m incredibly thankful that Samsung chose Taylor, Texas, for its new home for reasons represented in this report,\u201d said U. S. Representative John Carter (TX-31). \u201cWhile $26.8 billion is an impressive number, what I find most impressive is the people-focused impact of this number. I was recently at a local Chamber of Commerce event. While there, I met a business owner working on concrete for Samsung, another business owner doing pest control, and another business owner with a hand in construction. Everywhere I go, I hear the stories of how Samsung is bringing our local talent along for this exciting journey. These are the small businesses and people that this report represents. I applaud Samsung for their commitment to our community, and I look forward to a very long partnership between Central Texas and Samsung.\u201d<\/p>\n

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\u201cI have enjoyed working with Samsung and am looking forward to the continued success of their projects in Taylor, which promise to provide long-term economic opportunities for Central Texas,\u201d said U.S. Representative Pete Sessions (TX-17).<\/p>\n

Samsung has invested $18 billion in operating two fabs at the Austin, Texas campus, since 1996\u2014making it one of the largest direct foreign investments in United States history. The 2023 Economic Impact Report provides a detailed overview of the economic impact of Austin\u2019s 600-acre campus and Samsung\u2019s substantial investment to construct a minimum $17 billion manufacturing facility in Taylor, Texas.<\/p>\n

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\u201cSince 1996, Samsung Austin Semiconductor<\/a> has been an integral part of the Central Texas community by being drivers of job generation, economic impact, and engagement within the community,\u201d said Jon Taylor, Corporate Vice President, Samsung Austin Semiconductor<\/a>. \u201cWith a $26.8 billion economic impact, this number represents more than just dollars and cents.\u00a0 It represents people with GEDs to PhDs finding new opportunities in their careers and being able to pay their bills, provide for their families and loved ones while working toward their financial and personal goals.<\/p>\n

“Samsung Austin Semiconductor’s<\/a> remarkable achievement of doubling its impact to $26.8 billion in 2023 underscores the company’s pivotal role in our region’s economic growth,\u201d said Ed Latson, CEO of Opportunity Austin. \u00a0\u201cFrom providing opportunities across all education levels to investing in skilled labor, community development, and environmental stewardship, Samsung exemplifies what it means to be a great community asset and partner. We value their commitment to building a resilient and inclusive economy in Central Texas.”<\/p>\n\n\t\t<\/div>\n\t\t<\/div>\n\t\t

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