McCaul Joins Event Announcing Proposed $6.4 Billion CHIPS Grant for Samsung in Texas

Taylor, Texas - Today, Congressman Michael McCaul (R-Texas) - author of the CHIPS for America Act - joined Samsung executives and federal, state, and local officials for an event to celebrate the announcement that the U.S. Department of Commerce and Samsung Electronics have signed a non-binding preliminary memorandum of terms to provide up to $6.4 billion in direct funding through the CHIPS for America Act. The funds would expand Samsung's semiconductor manufacturing operations in Taylor, Texas.

"I authored and introduced the CHIPS for America Act to reshore and supercharge U.S. production of semiconductor chips, the backbone of our national security. Since its passage, we have embarked on the greatest tech revolution since the Manhattan Project, and I couldn't be prouder to see Samsung leading the way right here in Texas," said Rep. McCaul.

Today's announcement further solids the Lone Star das the best place to do business and the perfect spot for investment in the semiconductor industry. The historic investment will bring thousands of high-paying jobs to our state, boost the economy, and strengthen our national security for years to come. I'm proud to have played a role in this pivotal moment and am confident Samsung's work here will leave behind a better America - and a better world - for future generations."

Background:

The Department of Commerce announced it is proposing $6.4 billion dollars of direct grant funding to Samsung from the CHIPS for America Act. Samsung will, in turn, invest more than $40 billion dollars.

This proposed investment will support building two state-of-the-art fabrication plants, which will produce some of the most advanced semiconductor chips in the world; dedicated research and development fab; an advanced packaging facility; and an expansion of Samsung's facility in Austin.

Rep. McCaul with Samsung Executives