On April 15, Samsung Electronics welcomed U.S. Secretary of Commerce Gina Raimondo to its new semiconductor manufacturing facility in Taylor, Texas, at an event to announce up to $6.4 billion in direct funding to Samsung as part of the CHIPS and Science Act.

Samsung Semiconductor CEO Kye Hyun Kyung and Secretary Raimondo held a celebration of the investment which will enable Samsung to further expand in Central Texas and create new manufacturing capacity and capabilities for essential chips for the automotive, consumer technology, IoT, aerospace and other vital industries.

“We’re not just expanding production facilities; we’re strengthening the local semiconductor ecosystem and positioning the U.S. as a global semiconductor manufacturing destination,” said Kyung. “To meet the expected surge in demand from U.S. customers, for future products like AI chips, our fabs will be equipped for cutting-edge process technologies and help bring security to the U.S. semiconductor supply chain.”

Samsung has been an economic engine in Texas for nearly 30 years. Since 1996, Samsung Semiconductor has invested $18 billion in operating two fabs at its Austin, Texas, campus—making it one of the largest direct foreign investments in United States history. In 2021, Samsung announced expansion into Taylor with a minimum of $17 billion to construct a new semiconductor manufacturing facility.

With the addition of investment through the CHIPS and Science Act, Samsung is expected to invest more than $40 billion in the region in the coming years as one of the largest foreign direct investments for a greenfield project in United States history, transforming the small municipality of Taylor, Texas, into an expansive hub of leading-edge U.S. semiconductor manufacturing.

Click here to read Kyung’s full remarks and quotes from elected officials on the big announcement.