Be the first, order the brand new Galaxy S24 FE, Galaxy Tab S10 Ultra, order the KING Galaxy S24 Ultra!

SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission.

News For You
News For You
Notifications

Samsung eyeing up New York as potential location for its $17 billion plant

Business
By 

Last updated: August 18th, 2021 at 17:46 UTC+02:00

Samsung is eyeing the state of New York for a brand new fabrication plant, according to a new report by Times Union. Initially, Samsung had zeroed in on Arizona for its new 5nm plant, but it appears that New York is a contender, too.

Company executives are examining the benefits both states have to offer and is also looking at Genesee County as a potential site. There is, however, a possibility that it will ditch the United States altogether and set shop back in South Korea.

Tax breaks will decide which state gets billions from Samsung

Estimates say that the New York plant could cost Samsung up to $17 billion to set up. It isn't immediately clear as to which products will be manufactured at the new plant, but we're probably looking at 5nm chipsets. Samsung could also use it to bolster its 8nm wafer production, given its sky-high demand from Nvidia for its high-end GeForce RTX 3000 series of graphics cards.

The US federal government is expected to offer up to $2 Billion in tax breaks to Samsung for setting up a plant within its borders. The company would also prefer substantial tax breaks from local government entities to fund the required infrastructure improvements.

Samsung will create 1,800 new jobs in the region, which could be located at Western New York Science & Technology Advanced Manufacturing Park. Also known as WNYSTAMP, the facility spans over 1,250 acres and is host to several tech companies such as IBM and GlobalFoundries. The report adds that there is a possibility that Samsung's facility could be located elsewhere.

Source Business Samsung FoundryUnited States
Galaxy AI summarized

Scroll for more related content
News For You

You might also like

Samsung about to cut high-ranking executive jobs across key divisions

Samsung about to cut high-ranking executive jobs across key divisions

Although Samsung recently said it has no plans to spin off its Foundry and System LSI divisions, the tech conglomerate will reportedly cut significant executive job numbers throughout its chip-making arms before the end of 2024. A new report citing industry sources says the head of the Device Solutions (DS) division, under which Samsung's semiconductor […]

  • By Mihai Matei
  • 5 days ago
Samsung Foundry ‘hungry to grow the business’, won’t spin off

Samsung Foundry ‘hungry to grow the business’, won’t spin off

A few days ago, executives representing Samsung's financial division, i.e., Samsung Securities, suggested that the tech conglomerate could spin off the Foundry and System LSI divisions and list them on the US stock market. The chief of Samsung Electronics has now responded, saying that the spin-offs are not in the cards. Market watchers expect Samsung's […]

  • By Mihai Matei
  • 1 week ago
Samsung reportedly facing low yields of Galaxy S25’s 3nm Exynos 2500 chip

Samsung reportedly facing low yields of Galaxy S25’s 3nm Exynos 2500 chip

The phones in the Galaxy S25 lineup are expected to be the company's first to use 3nm chips. Earlier, it was rumored that Samsung would use 3nm Exynos 2500 in the Galaxy S25 and the Galaxy S25+ and the 3nm Snapdragon 8 Elite in the Galaxy S25 Ultra. However, that might change as the company […]

  • By Asif Iqbal Shaik
  • 1 week ago
Samsung Securities suggests Foundry division should spin off

Samsung Securities suggests Foundry division should spin off

Samsung Foundry appears to be in trouble, as low 3nm yield issues and loss of clients continue. Samsung should announce its Q3 financial report in mid-October, and analysts estimate that the Foundry and System LSI divisions will post significant operating losses. Industry watchers (via Business Korea) say that Samsung's non-memory business, i.e., Foundry and System […]

  • By Mihai Matei
  • 2 weeks ago
iPhones might not one-up Galaxy S-series for at least two years

iPhones might not one-up Galaxy S-series for at least two years

Apple’s latest smartphone lineup, the iPhone 16 series, features the A18 and A18 Pro chipsets, which are made on TSMC’s enhanced 3nm fabrication process called the N3P. Samsung’s upcoming flagship smartphone lineup, the Galaxy S25 series, will most likely use the Snapdragon 8 Gen 4 SoC, which could also be made on TSMC’s N3P fabrication […]

  • By Abid Iqbal Shaik
  • 4 weeks ago
Samsung Foundry might be having major issues at Texas chip plant

Samsung Foundry might be having major issues at Texas chip plant

Samsung is reportedly taking drastic measures at its state-of-the-art chip manufacturing plant in Taylor, Texas, due to further delays and problems concerning low yields. In recent news (via Business Korea), Samsung supposedly withdrew personnel from the Texas chip manufacturing facility because of delays and slow progress concerning the yield of 2nm-based chips. Despite its efforts […]

  • By Mihai Matei
  • 4 weeks ago