South Korean tech giant Samsung Electronics announced it will build a $ 17 billion chip factory outside Austin, Texas to manufacture advanced chips for phones, cars and other electronic devices.

The plant would create 2,000 high-tech jobs, construction is slated to begin in the first half of next year, and production is slated to begin in the second half of 2024, Samsung said in a statement on Wednesday. It would also create at least 6,500 construction jobs, Texas Governor Greg Abbott said in a press release.

The world’s largest memory chip maker and second largest contract chip maker had also considered locations in Arizona and New York for the plant, which will be significantly larger than its only other US chip factory in Austin.

Samsung chose Texas again because of its infrastructure, government support, and proximity to its existing facility, it said.

A shortage of chips has proven to be both a business barrier and a serious national security problem for the United States. Short stocks of semiconductors due to …


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