Samsung Tailor-C Semiconductor Investment Wins Silver Award for 'Deal of the Year' by US Magazine

Greg Abbott, Governor of Texas, and Kim Ki-nam, Vice Chairman of Samsung Electronics (right), announcing at a press conference on November 23 last year that Samsung Electronics has finally selected Taylor City, Texas, as the site for a new foundry semiconductor production line in the United States.
[Image source=Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] Samsung Electronics' investment in building its second foundry plant in the United States received the Silver Award for the 'Best Deal of 2021' selected by a U.S. media outlet.

Business Facilities, a media outlet for corporate site selectors and economic development professionals in the U.S., recently selected the recipients of the 'Best Deal of 2021' awards. They chose large-scale investments made in the U.S. last year that were significant in size and had a positive impact on the development of the respective regions.

Business Facilities awarded the Silver Award to the Taylor Economic Development Corporation, noting that last November Samsung Electronics decided on a massive investment of $17 billion, the largest foreign direct investment in Texas history. Samsung Electronics' Taylor plant is planned to manufacture advanced semiconductors used in mobile, 5G, HPC, and artificial intelligence (AI) applications. Construction is scheduled to begin in the first half of this year and be completed in the second half of 2024. This investment by Samsung Electronics is expected to create more than 2,000 jobs in Taylor and nearby Austin.

The Gold Award, which ranks first, went to the Tennessee Department of Economic and Community Development for Ford's investment to build a battery and automotive manufacturing campus in Tennessee. Ford, in cooperation with SK Innovation, plans to invest $5.6 billion in this project, which is expected to create more than 5,800 jobs. The Bronze Award, ranking third, was given to Kore Power for its investment in constructing a lithium-ion battery manufacturing facility in Maricopa County, Arizona, for electric vehicle battery cell technology development.