SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission. Learn more.

Samsung eyeing up New York as potential location for its $17 billion plant

Business
By 

Last updated: August 18th, 2021 at 17:46 UTC+02:00

Samsung is eyeing the state of New York for a brand new fabrication plant, according to a new report by Times Union. Initially, Samsung had zeroed in on Arizona for its new 5nm plant, but it appears that New York is a contender, too.

Company executives are examining the benefits both states have to offer and is also looking at Genesee County as a potential site. There is, however, a possibility that it will ditch the United States altogether and set shop back in South Korea.

Tax breaks will decide which state gets billions from Samsung

Estimates say that the New York plant could cost Samsung up to $17 billion to set up. It isn’t immediately clear as to which products will be manufactured at the new plant, but we’re probably looking at 5nm chipsets. Samsung could also use it to bolster its 8nm wafer production, given its sky-high demand from Nvidia for its high-end GeForce RTX 3000 series of graphics cards.

The US federal government is expected to offer up to $2 Billion in tax breaks to Samsung for setting up a plant within its borders. The company would also prefer substantial tax breaks from local government entities to fund the required infrastructure improvements.

Samsung will create 1,800 new jobs in the region, which could be located at Western New York Science & Technology Advanced Manufacturing Park. Also known as WNYSTAMP, the facility spans over 1,250 acres and is host to several tech companies such as IBM and GlobalFoundries. The report adds that there is a possibility that Samsung’s facility could be located elsewhere.

Source Business Samsung FoundryUnited States
Load 2 comments

You might also like

Unlocked Samsung Phones: Everything you need to know

If you’ve been looking to buy a Galaxy device, you may have come across unlocked Samsung phones. It̵ …

  • By Adnan Farooqui
  • 4 hours ago

Samsung’s new limited-time deal on the Galaxy Z Fold 3 is unbeli …

The Galaxy Z Fold 4 is just around the corner, and it looks like Samsung is taking extra steps to offload the …

  • By Mihai Matei
  • 2 days ago

Samsung is pairing Neo QLED TVs with free Galaxy S22 flagship phones

Samsung’s latest Neo QLED (2022) smart TV series unveiled earlier this year at CES is impressive in its …

  • By Mihai Matei
  • 3 days ago

Latest Samsung Galaxy Watch 4 One UI 4.5 beta fixes many bugs

Galaxy Watch 4 customers in select markets have had the opportunity to test the first One UI Watch 4.5 beta bu …

  • By Mihai Matei
  • 3 days ago

Samsung rival TSMC building four new 3nm semiconductor chip plants

Since the world’s reliance on technology and computing is increasing each day, semiconductor chips are i …

  • By Asif Iqbal Shaik
  • 3 days ago

TSMC to compete with Samsung by making 3nm chips this year, 2nm chips …

Samsung Foundry has been chasing TSMC in the chip manufacturing segment for quite a few years, but it hasnR …

  • By Asif Iqbal Shaik
  • 6 days ago