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The US Department of Commerce on Friday announced its awards to Samsung, Texas Instruments and Amkor Technology under the CHIPS Incentives Program, which amounts to $6.75 billion in total. The program is designed to help boost domestic semiconductor production. Samsung was awarded $ 4.745 billion – less money than which was announced earlier this year – where to $1.61 billion and Amkor to $407 million.
Samsung plans to invest $37 billion over the next few years to boost chip development and manufacturing in the US, the DOC said. The company will expand its operations in Texas to include two new manufacturing facilities and a research and development center. It also plans to expand its existing location in Austin. Texas Instruments is in the process of building three new facilities – two in Texas and one in Utah – that are expected to generate sales of more than $18 billion through 2029. Amkor plans to invest $2 billion to build a new manufacturing and testing facility in Peoria, Arizona. . According to it will be the largest place in the world of its kind.
The Commerce Department says the awards will be given when companies meet certain milestones. It expects funding to support the creation of thousands of jobs for each project.
