The U.S. Department of Commerce on Friday announced awards to Samsung, Texas Instruments and Amkor Technology under the CHIPS incentive program, totaling more than $6.75 billion. This program is intended to help expand domestic semiconductor production. Samsung received up to $4.745 billion in direct funding, less than what was announced earlier this year, while Amkor received up to $1.61 billion and Amkor received up to $407 million.
Samsung Electronics plans to invest $37 billion over the next few years to increase chip development and production in the U.S., the DOC said. The company will expand its operations in Texas to include two new production facilities and a site for research and development. The company also plans to expand its existing facility in Austin. Texas Instruments is working to build three new facilities, two in Texas and one in Utah, and plans to invest more than $18 billion by 2029. Amkor plans to invest $2 billion to build a state-of-the-art packaging and testing facility in Peoria, Arizona. . According to This will be the largest facility in the country.
The Commerce Department said rewards will be paid once the company completes certain project milestones. We expect this funding to support the creation of thousands of jobs per project.
