web analytics

Austin: County to Begin Talks on Performance Agreements with Samsung for $17 Billion Plant

Feature Photo: The entrance to Samsung Austin Semiconductor plant off East Parmer Lane. Image: Google Streets.

Posted: 7-21-2021

by Art Benavidez

Austin (Travis County) — Travis County Commissioners Court made public on Tuesday its status with Samsung Austin Semiconductor concerning the economic agreement negotiations for a $17 billion chip manufacturing plant.

County officials took no formal action, however, a “for discussion” item on the agenda explained that the plan is to partner with the city of Austin on their existing Chapter 380 process.

Until recently, public-private development talks were occurring by the code name Project Silicon Silver List, but for the sake of government transparency the county listed the company name. Commissioners Court had informed Samsung on Jan. 26 that divulging the company would occur “once the application is received.”

Christy Moffet, the county’s economic and strategic planning management director reported Samsung wants to finalize a performance agreement by August, however, the county would have a hard time meeting that deadline.

VBX reported in June that reports had surfaced that the company would be announcing that the city would be home to the chip plant, having beaten out Phoenix and upstate New York in the process.

Samsung is planning to apply an advanced 5-nanometer extreme ultraviolet lithography chip-making process at the proposed plant.

The Samsung Austin Semiconductor plant is a 300-acre tract of land that fronts onto East Parmer Lane.

The company is also looking into a six million square-foot expansion apart of its Austin operation in Williamson County, with construction expected to begin in the first quarter of 2022 and be completed by 2024, according to Bloomberg News.

The company is being enticed by the national government’s desire to balance China’s economic growth by luring advanced manufacturing the country has lost in the process, according to the news outlet.  

VBX Project ID: 2020-8791


art@virutalbx.com

Related Images

Construction Preview
By |2021-07-22T11:38:54-05:00July 22nd, 2021|Construction Preview, Feature Story|

About the Author:

Art Benavidez (Construction News Reporter, Central Texas) is a seasoned journalist with over 15-years of experience in writing breaking news and in-depth features at the local level. He honed his research and reporting skills in newspapers and magazines throughout South and West Texas along with expertise in crafting digital content as Managing Editor of New Image Marketing Research Corporation. Benevidez is a Texas native and graduate of UT-RGV.

Leave A Comment