Samsung plans to invest more than $1 billion to enhance its chip production at its 2.3 million-square-foot semiconductor facility located off Parmer Lane in Northeast Austin.
The investment will be made in the first half of 2017 and will support growing demands for advanced system-on-chip products made for mobile and other electronic devices. The Samsung Austin Semicondcutor produces many components found in tablets, smartphones and other mobile devices.
Mayor Steve Adler said Samsung officials discussed their plans with him while he visited with them in Korea.
“I’m thrilled that this plan is coming to fruition,” he said in a news release. “Samsung is so often a source of good news in Austin whether it’s about jobs, education, workforce development, housing or helping the homeless. Samsung is a great partner for Austin’s present, and this announcement tells us that they’ll be an even bigger part of our future.”
The Samsung Austin Semicondcutor is on a 300-acre campus at 12100 Samsung Blvd., Austin, located east of I-35 off Parmer, a roadway known for it tech presence. Other technology-related companies, including Apple Inc., Ebay, Paypal and General Motor’s Austin Innovation Center, are all located off Parmer.
The $1 billion investment could mean more jobs and support in Austin’s tech community. In 2015, Samsung contributed $3.6 billion to the Central Texas economy and employees 10,755 workers in the area, contributing $498 million in salaries. The company has invested more than $16 billion to expand and maintain its Austin semiconductor since its creation in 1997.
“Samsung remains a shining example of what happens when we create a business-friendly environment,” said Mike Rollins, president of the Greater Austin Chamber of Commerce, in a news release. “The result is a win that enhances and sustains our community’s ability to create a broad range of new jobs and economic opportunities for Austinites and their families.”