Samsung Electronics is close to finalizing a deal to build a $17 billion semiconductor factory in Williamson County, Texas.
The electronics company previously said the factory will create an estimated 1,800 jobs making advanced logic semiconductor chips.
Sources told Reuters that the final decision has been made and the county bordering Austin is desirable due to the subsidies provided as well as the reliable access to electricity and water. Last winter's massive storm that left millions without power in Texas forced the shutdown of Samsung’s existing chip plant in Austin and caused up to $339 million in damage.
"With the United States turning semiconductors into a strategic material, it is becoming a risk to be concentrated only in Asia," said Park Sung-soon, an analyst at Seoul-based Cape Investment Securities. "Samsung wants to be on the ground in the U.S."
Construction of the factory is scheduled to begin in January and the plant should be operational by 2024. Once the deal is signed, Samsung would join Dell and Apple invested in the Williamson County.