Samsung Austin Semiconductor announces 2023 economic impact of $26.8B into Central Texas

_{Samsung Austin Semiconductor's Austin campus.} AUSTIN, Texas--Feb. 20, 2024--Samsung Austin Semiconductor, a world leader in advanced semiconductor technology, today released its 2023 Economic Impact Report—a comprehensive third-party report that highlights $26.8 billion in economic contribution and impact generated through operations of the Austin fab and the construction of the future manufacturing facility in Taylor. “Texas is the No. 1 state for semiconductor manufacturing in the nation, thanks to partners like Samsung who contribute so much to our economy and communities in Central Texas and beyond,” said Governor of the State of Texas, Greg Abbott. “Today’s announcement is a testament to the incredible work Samsung and Texas have done to accelerate growth and innovate in semiconductor manufacturing, creating thousands of good-paying jobs for Texans and contributing billions to the Texas economy. There is no better place to innovate than Texas, and we thank Samsung for choosing to grow and expand in our great state.” “Since 1996, Samsung Austin Semiconductor has been an integral part of the Central Texas community by being drivers of job generation, economic impact and engagement within the community,” said Jon Taylor, corporate vice president, Samsung Austin Semiconductor. “With a $26.8 billion economic impact, this number represents more than just dollars and cents. It represents people with GEDs to PhDs finding new opportunities in their careers and being able to pay their bills, provide for their families and loved ones while working toward their financial and personal goals. Samsung has invested $18 billion in operating two fabs at the Austin, Texas campus, since 1996—making it one of the largest direct foreign investments in United States history. The 2023 Economic Impact Report provides a detailed overview of the economic impact of Austin’s 600-acre campus and Samsung’s substantial investment to construct a minimum $17 billion manufacturing facility in Taylor, Texas. “I’m incredibly thankful that Samsung chose Taylor, Texas, for its new home for reasons represented in this report,” said U.S. Rep. John Carter (TX-31). “While $26.8 billion is an impressive number, what I find most impressive is the people-focused impact of this number. I was recently at a local Chamber of Commerce event. While there, I met a business owner working on concrete for Samsung, another business owner doing pest control, and another business owner with a hand in construction. Everywhere I go, I hear the stories of how Samsung is bringing our local talent along for this exciting journey. These are the small businesses and people that this report represents. I applaud Samsung for their commitment to our community, and I look forward to a very long partnership between Central Texas and Samsung.” “I have enjoyed working with Samsung and am looking forward to the continued success of their projects in Taylor, which promises to provide long-term economic opportunities for Central Texas,” said U.S. Rep. Pete Sessions (TX-17). "Samsung Austin Semiconductor's remarkable achievement of doubling its impact to $26.8 billion in 2023 underscores the company's pivotal role in our region's economic growth. From providing opportunities across all education levels to investing in skilled labor, community development, and environmental stewardship, Samsung exemplifies what it means to be a great community asset and partner. We value their commitment to building a resilient and inclusive economy in Central Texas," said Ed Latson, CEO of Opportunity Austin.

 

_{Samsung Austin Semiconductor presenting $1 million investment to Texas A&M University on Sept. 7, 2023.} Key findings from the report include:

• Economic Growth: From 2022 to 2023, Samsung Austin Semiconductor’s economic impact on the region nearly doubled from $13.6 billion to $26.8 billion. In 2021, prior to the Taylor expansion, the company contributed $6.3 billion to the local economy.
• Direct and Indirect Employment: Samsung Austin Semiconductor supported the creation of 5,322 direct jobs and an additional 12,344 indirect jobs in Austin and 18,161 direct and indirect construction jobs in Taylor.
• Jobs and Salaries: The Austin and Taylor campuses supported 38,144 jobs in the area along with $1.7 billion in workers' salaries.
• Taxes: The Austin and Taylor campuses generated $245.6 million in annual revenues for local taxing districts.
• Community Giving and University Workforce Partnerships: Building on its commitment to charitable giving and partnerships, Samsung Austin Semiconductor donated more than $4 million supporting dozens of charities focused on closing the academic achievement gap, creating great futures, community engagement and workforce development.
• In 2023 Samsung Austin Semiconductor launched its 5-Star Workforce Development plan and provided significant contributions to key learning institutions such as The University of Texas at Austin, Texas A&M University, University of Illinois at Urbana Champagne and the Taylor Independent School District.

_{Samsung Austin Semiconductor was named Business of the Month by the Taylor Chamber of Commerce in 2023.} “Samsung has already proven itself to be an amazing community partner. The facility isn’t even up and running yet and we have already felt a positive impact at our local nonprofit organizations, additions to our City and school budgets and the personal friendship of many of their staff. We are looking forward to many years of growing prosperity for our community thanks to Samsung’s investment,” said Tia Rae Stone, president and CEO, Greater Taylor Chamber of Commerce. To read the full 2023 Economic Impact Report, click here. The report was compiled by Impact DataSource. To learn more about Samsung Austin Semiconductor, visit semiconductor.samsung.com/us/sas. Media Contact: Michele Glaze Director of Communications and Community Affairs Samsung Austin Semiconductor 512.672.3159 p.glaze@samsung.com About Samsung Austin Semiconductor, LLC Samsung Austin Semiconductor is one of the most advanced semiconductor manufacturing facilities in the world and an integral part of Central Texas for more than 28 years. Through successful collaborations with global foundry customers and a continuous drive to develop the most cutting-edge technologies, Samsung Austin Semiconductor has become a major player in the foundry market with a technology portfolio that ranges from 65nm to 28nm using planar transistor technology to the more advanced 14nm 3D FinFet technology. Our process technology offerings impact everyday life including mobile, graphic, consumer, networking/high performance computing, Internet of Things, RF and automotive. With more than 5,000 employees, Samsung Austin Semiconductor is a premier and growing employer who provides a great place to work, is committed to environmental stewardship and being a good corporate citizenship. Learn more at semiconductor.samsung.com/us/sas. About Samsung Electronics America For more than 45 years, Samsung Electronics America has operated in the United States, with over 20,000 employees across America. Samsung is committed to American innovation with investments totaling more than $60B in advanced manufacturing, R&D, and emerging technologies. Samsung has also made significant contributions within communities throughout the United States, from education to veteran initiatives, and remains committed to being a leader in sustainability. Every day, we work to reduce the environmental impact of our products so customers can live more sustainably with affordable, innovative technology. Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, home appliances, network systems, memory, system LSI, foundry, and LED solutions. Samsung is delivering a seamless connected experience through its SmartThings ecosystem and open collaboration with partners. For the latest news, please visit the Samsung Newsroom.

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