Governor Abbott Meets With Samsung Executives To Discuss Billions Invested In Texas

April 16, 2024 | Austin, Texas | Press Release

Governor Greg Abbott yesterday met with Samsung Electronics, Co., Ltd. ("Samsung") President and CEO Kye Hyun Kyung and other executives at the Governor’s Mansion in Austin to celebrate Samsung’s continued partnership with Texas and investment of more than $40 billion in the state. This investment is expected to support the expansion of cutting-edge facilities in Central Texas, including expanding their initial $17 billion semiconductor manufacturing facility, and adding a second chip-manufacturing fab, an advanced packaging facility, and a research and development center—more than doubling their initial investment in Taylor and establishing a world-class semiconductor hub.
“Just over two years ago here at the Governor's Mansion, I was proud to celebrate Samsung’s new semiconductor manufacturing facility in Taylor,” said Governor Abbott. “We are now building on that initial investment to make Texas the premier semiconductor hub in America. Samsung's investment of over $40 billion will help cement Texas’ position as the No. 1 state for semiconductors, bringing in more business investment to Texas communities and creating thousands of good-paying jobs in our great state. The future is full of microchips, and we’re proud that some of the world’s most advanced chips will be Made in Texas.”
Governor Abbott was also joined at the meeting by Corporate President and Head of Foundry Business Siyoung Choi, Corporate President and Head of Global Public Affairs Office Won Kyong Kim, and Corporate Vice President and Head of Global Public Affairs team Hyouk Woo Kwon. 
During the meeting, Governor Abbott highlighted the strong partnership between Texas and Samsung and reaffirmed the state’s commitment to help Samsung make Texas the semiconductor hub in America. The Samsung executives thanked the Governor for his continued support and for signing the Texas CHIPS Act into law last year. Governor Abbott and Samsung executives also discussed Texas’ robust workforce, with the Samsung executives emphasizing how the strength of their success is in part due to the talented Texas workforce. 
The Governor recently announced the inaugural members of the Texas Semiconductor Innovation Consortium Executive Committee (TSIC EC), which was established under House Bill 5174 and operates within the new Texas CHIPS Office in the Governor’s Economic Development & Tourism Office. The TSIC EC will govern the work of the Consortium and work with industry stakeholders to ensure Texas’ remains a national leader in advanced semiconductor research, design, and manufacturing.