Austin, Texas — Oct. 18, 2023 — Samsung Austin Semiconductor, a world leader in advanced semiconductor technology, today released its 2022 Economic Impact Report—a comprehensive report that outlines the substantial economic contribution and impact generated through operations of the Austin fab and the construction of the new manufacturing facility in Taylor to the Central Texas economy.
The 2022 Economic Impact Report
provides a detailed overview of Samsung Austin Semiconductor’s economic impact and its substantial investments to construct the $17 billion Taylor facility and in workforce development, critical partnerships and the local Austin and Taylor communities—reaffirming the company’s commitment to being a trusted and proven corporate partner in the communities in which it serves.
Key findings from the report include:
•Economic Growth: In 2022, Samsung’s Austin manufacturing site along with the Taylor construction site injected $13.6 billion into the local economy – more than double compared to $6.3 billion in 2021. The regional impact of the Taylor project alone is expected to be over $42 billion across Central Texas.
•Direct and Indirect Employment: Samsung Austin Semiconductor supported the creation of 4,300 direct, and an additional 9,935 indirect, jobs in Austin and 4,600 in Taylor.
•Education and Workforce Readiness Partnerships: Samsung Austin Semiconductor remains dedicated to expanding advanced manufacturing opportunities and STEM programs. The report details the investments made in critical partnerships in 2022, which have been built upon in 2023 with the recent announcement of $1 million plus donations to the University of Texas at Austin’s Cockrell School of Engineering, University of Illinois at Urbana Champaign’s Grainger College of Engineering and Texas A&M University’s College of Engineering.
•Community Giving: Building on its commitment to charitable giving and partnerships, Samsung Austin Semiconductor donated more than $1.5 million, benefiting over 50 local organizations. Building upon these efforts, in 2023, Samsung Austin Semiconductor donated $3.2 million to 76 area community organizations as part of its Samsung Gives initiative.
•Sustainability: Samsung Austin Semiconductor remains committed to being a responsible corporate partner. In 2022, it reached the Zero Waste to Landfill Gold Level validation for recycling or reusing 97% of waste.
“In 2022, the Samsung Austin Semiconductor campus on Parmer Lane and construction at the $17 billion Taylor facility injected $13.6.3 billion into the Central Texas economy while supporting over $1 billion in workers’ salaries,” said Jon Taylor, corporate vice president of Fab Engineering. “While many folks may think we make TVs, we actually make the 'chips' that power mobile devices, tablets, cars and other devices all of us use daily. These chips start out as raw silicon wafers and are transformed into integrated circuits – or chips – as we like to call them. Leading this critical work and the construction that will expand our Texas footprint is the dedicated team of more than 4,500 direct employees, 12,000 indirect staff such as partners, vendors and contractors, and 4,600 construction workers. Our robust employee and supplier base makes Samsung Austin Semiconductor one of the largest technology employers in the region."
To read the complete 2022 Economic Impact Report, click here.
To learn more about Samsung Austin Semiconductor, visit semiconductor.samsung.com/us/sas.