Samsung's US chip facilities gave a $19.8 billion boost to the Texas economy

Samsung has a significant semiconductor operation in the United States that's primarily based in the state of Texas. Samsung Austin Semiconductor operates campuses in Austin and Taylor, Texas. The business activity generated there has a substantial impact on the local economy.

The company recently released its 2024 Economic Impact Report, a third-party assessment that determines the economic impact and contributions of the two chipmaking facilities and the ongoing work on the new fab in Taylor.

Samsung Semiconductor has been investing in this region since 1996. Over $18 billion have been invested so far in operating the two fabs at the Austin campus. Samsung also started construction on its new Taylor campus in 2022 and the work is ongoing.

2024 was a tough year for the semiconductor market globally yet Samsung Austin Semiconductor generated $19.8 billion for the Central Texas economy. The two campuses accounted for 38,498 jobs with $2.6 billion paid out in workers' salaries alone. The headline figure also includes out-of-town visitors to the campus and vendor truck drivers, direct and indirect workers in other business that also spent money in the community.

In addition to generating nearly $20 billion in economic activity, the two fabs have also contributed $220.5 million in revenues for the relevant taxing districts. The economic activity includes payments of $2.9 billion made to area vendors and $236.3 million on materials, supplies, and services sourced from the community.

Samsung's doubling down on its presence in the area with plans to invest over $37 billion in the coming years. This includes the new chipmaking facility in Taylor, Texas, where $17 billion will be spent on the built-out, creating up to $12,000 construction and over 3,500 direct manufacturing jobs.