Joe Biden’s administration will provide Samsung with $6.4 billion in grants to enable the company to expand its chip production in central Texas. This was reported by Reuters.
The funding will help increase the production of chips for the aerospace, defense, and automotive industries, as well as strengthen US national security.
“Bringing advanced chip manufacturing back to America is an important new chapter in our semiconductor industry,” said White House Economic Advisor Lael Brainard.
Commerce Minister Gina Raimondo said that the funding will support two chip manufacturing companies, a research center, and a packaging plant.
“[This investment] will allow the U.S. to become a world leader again, not only in semiconductor development, where we are currently leading, but also in manufacturing, advanced packaging, research and development,” Raimondo said.
Samsung will invest approximately $45 billion to build and expand its facilities in Texas by the end of the decade.
The US government has also recently allocated $11.6 billion for TSMC, which is to build two more chip plants.
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