Samsung Austin Semiconductor LLC (SAS) continues to contribute to the health of the Austin economy by planning to invest more than $1 billion by the first half of 2017. Investments in its facilities will enhance current System LSI production to meet the growing demands in the industry for advanced system-on-chip (SoC) products especially for mobile and other electronic devices.
“Samsung is a bellwether for Austin. As a company that the community and state partnered with to relocate here several years ago, they have far exceeded expectations,” said Mike Rollins, President, Austin Chamber of Commerce. “Samsung remains a shining example of what happens when we create a business friendly environment. 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.”
According to an Impact Data Source Economic Impact Study, SAS added $3.6 billion into the regional economy of central Texas in 2015. During that same time, SAS supported 10,755 jobs in the area and $498 million in annual salaries. Since its establishment in 1997, Samsung has invested more than $16 billion for the expansion and maintenance of its Austin facility.
“I was glad to discuss this with Samsung when our trade delegation visited Korea, and I’m thrilled that this plan is coming to fruition,” said Austin Mayor Steve Adler. “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.”
“We are committed to Austin and our contributions to the community,” said Catherine Morse, General Counsel and Senior Director of Public Affairs at SAS. “This is our home and we want to ensure our community is healthy and prospering. These investments will support this, while also ensuring our customers’ growing needs are met.”