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Tue. 23 Nov 2021, 8:24am ETBenzinga
In: News, Tech, Media
  • Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM), rival Samsung Electronics Co Ltd (OTC:SSNLF), aims for a $17 billion chip-making plant in Taylor, Texas, the Wall Street Journal reports.
  • The Taylor facility, located in central Texas, looks to create 1,800 jobs. However, the facility will not commence chip production before 2024 end.
  • Taylor had offered incentives that include the equivalent of property-tax breaks of up to 92.5% for the first ten years.
  • The Taylor factory will serve as an advanced chip-making facility for Samsung’s contract-manufacturing operations. 
  • In October, Tesla Inc (NASDAQ:TSLA) migrated its headquarters to Austin shortly after CEO Elon Musk had moved to the Lone Star State. 
  • Taylor is about 30 miles away from Austin. The planned site of roughly 1,200 acres is much larger than Samsung’s property in Austin.
  • Price Action: TSM shares traded lower by 0.60% at $124 in the premarket session on the last check Tuesday.