August 8, 2022

What you need to know

  • Samsung could invest almost $200 billion in a massive chip manufacturing project in Austin, Texas.
  • The phone maker seems to be planning to build 11 semiconductor chip factories in the area.
  • The plan is expected to create over 10,000 jobs if it fulfills the entire project.

Samsung has been shelling out large sums of investments in Texas over the past few months. After unveiling its plans to build a $17 billion semiconductor factory in Taylor, the tech giant now appears to be in the process of building 11 more chip plants in Austin City.

According to Austin Business Journal (opens in new tab), Samsung’s plan could lead to an investment of nearly $200 billion over two decades, assuming it fulfills the entire project. The plan could also result in the creation of over 10,000 new jobs in Austin.