The U.S. Department of Commerce on Friday announced its awards to Samsung, Texas Instruments and Amkor Technology under the CHIPS incentives program, totaling more than $6.75 billion. The program is intended to help expand domestic semiconductor production. Samsung received up to $4.745 billion in direct financing – a smaller amount than that that was announced earlier this year – during up to $1.61 billion and Amkor up to $407 million.
According to DOC, Samsung plans to invest $37 billion over the next few years to advance chip development and production in the United States. The company will expand its operations in Texas with two new manufacturing facilities and a research and development site. There are also plans to expand an existing facility in Austin. Texas Instruments is working on building three new facilities – two in Texas and one in Utah – and plans to invest over $18 billion by 2029. Amkor plans to invest $2 billion to build an advanced packaging and testing facility in Peoria, Arizona. Accordingly It will be the largest facility of its kind in the country.
According to the Department of Commerce, the awards are given when companies achieve certain project milestones. The funds are expected to create thousands of jobs per project.
