Samsung Electronics is getting $6.4 billion in government funding as the Biden administration announced Monday plans to support the company’s efforts to develop a computer chip manufacturing and research cluster in Texas.
The taxpayer’s money is from the CHIPS and Science Act, which President Joe Biden signed into law in 2022 with the goal of reviving the production of advanced computer chips domestically.
The Commerce Department announced the funding that will create at least 17,000 construction jobs and more than 4,500 manufacturing jobs, according to the Associated Press.
The cluster will be in Taylor, a city northeast of Austin.
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