DOC finalizes semiconductor awards totaling nearly $7 billion for Samsung, Texas Instruments and Amkor

The US Department of Commerce has announced the finalization of semiconductor awards totaling nearly $7 billion for Samsung, Texas Instruments, and Amkor Technology under the CHIPS Incentives Program. The program aims to expand domestic semiconductor production and support the creation of thousands of jobs per project.

Samsung was awarded up to $4.745 billion in direct funding, which is a smaller amount than the preliminary award of up to $6.4 billion that was announced earlier this year. The company plans to invest $37 billion over the next few years to ramp up chip development and production in the US, including expanding its operations in Texas with two new production facilities and a site for research and development, as well as expanding an existing facility in Austin.

Texas Instruments was granted up to $1.61 billion and plans to invest over $18 billion through 2029 to build three new facilities, two in Texas and one in Utah. Amkor Technology received up to $407 million and is planning a $2 billion investment to create an advanced packaging and test facility in Peoria, Arizona, which will be the country’s largest facility of its kind.

The Commerce Department will dole out the awards as the companies complete certain project milestones. According to Reuters, the funding is expected to support the creation of thousands of jobs per project.

The CHIPS Incentives Program is a significant investment in the domestic semiconductor industry and demonstrates the government’s commitment to supporting the growth and development of this critical sector. The program will not only help to expand domestic production but also create new job opportunities and drive innovation in the industry.

In conclusion, the finalization of the semiconductor awards for Samsung, Texas Instruments, and Amkor Technology under the CHIPS Incentives Program is a significant step forward for the domestic semiconductor industry. The investment will support the creation of thousands of jobs and drive innovation in the sector, further solidifying the US’s position as a leader in the global semiconductor market.