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The US Department of Commerce on Friday announced its awards to Samsung, Texas Instruments and Amkor Technology under the CHIPS Incentive Program, amounting to more than $6.75 billion in total. The program is intended to help expand domestic semiconductor production. Samsung received up to $4.745 billion in direct funding (a smaller amount than announced earlier this year), while up to $1.61 billion and Amkor received up to $407 million.
Samsung plans to invest $37 billion in the coming years to accelerate chip development and production in the United States, the DOC said. The company will expand its operations in Texas to include two new production facilities and a research and development site. It also plans to expand an existing facility in Austin. Texas Instruments is working to build three new facilities, two in Texas and one in Utah, in which it is said to invest more than $18 billion through 2029. Amkor is planning a $2 billion investment to create an advanced testing and testing facility. packaging in Peoria, Arizona. . According It will be the largest facility of its kind in the country.
The Commerce Department says the awards will be awarded as companies complete certain project milestones. It hopes the funding will support the creation of thousands of jobs per project.
