Samsung, one of the world’s leading high-tech corporations, will open a new semi-conductor facility in Austin, Texas. A $10.8 million grant from the Texas Enterprise Fund (TEF) helped close the deal, which will ultimately create 900 high-paying jobs.
“Today’s announcement is proof that Texas is a place where new technology investments take root and thrive,” said Texas Gov. Rick Perry. “Samsung is a world class company with an already strong presence in our state. I welcome this new investment and look forward to our continued partnership.”
Samsung currently employs 1,250 people in the Austin area. In 2003, Samsung launched a $500 million upgrade and expansion for its Austin chip plant. The new facility will manufacture semi-conductor chips.
In 2003, the Texas legislature created the TEF with $295 million to allow the state to provide grants to help “close deals” and bring jobs and employers to Texas. The TEF was reauthorized in 2005, and allocated an additional $180 million. Since its creation, the TEF has been used to close deals that will create more than 40,000 new jobs for Texans.
