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Samsung Electronics Floats Nearly $200 Billion Spend on New Texas Plants in Next Decades

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Samsung Electronics Floats Nearly 0 Billion Spend on New Texas Plants in Next Decades


SEOUL—

Samsung Electronics Co.

has floated the prospect of investing practically $200 billion for 11 new chip-making vegetation in Texas over the following twenty years, a mega splurge that if executed would dramatically increase its semiconductor foothold within the U.S.

The South Korean tech large’s proposed spending was divulged in current filings submitted to the Texas Comptroller’s workplace and made public Wednesday. One doubtless motivation is a year-end expiration of a Texas state incentive program providing property tax breaks for 10 years for giant investments.

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The filings don’t commit Samsung to take a position. The Suwon, South Korea-based firm doesn’t at present have particular plans to pursue the brand new factories outlined within the filings, a Samsung spokeswoman stated. The spending proposals replicate the corporate’s long-term planning course of to judge the viability of additional U.S. enlargement, she added.

Samsung’s probably eye-popping spending comes as U.S. lawmakers weigh greater than $50 billion in subsidies to spice up American-based chip manufacturing and analysis. Particulars of the laws must be resolved, although the bipartisan invoice cleared a procedural hurdle on Tuesday. A lot of the world’s chip manufacturing has shifted to Asia in current a long time.

The sluggish progress on the U.S. chip subsidies has prompted some semiconductor giants to stall tens of billions of {dollars} in potential manufacturing unit initiatives.

Intel Corp.

lately stated it will transfer extra cautiously on its manufacturing unit plans with out authorities incentives and delayed a groundbreaking ceremony for a deliberate multibillion-dollar chip manufacturing facility in Ohio.

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Samsung at present operates chip-production factories at three places in South Korea, two in Austin, Texas, and two in China. The corporate dominates in reminiscence chips, whereas it harbors huge aspirations for its contract chip-making enterprise.

“All of it boils right down to incentives for Samsung to maneuver an enormous a part of their manufacturing to the U.S., and even throughout the U.S., very particular areas,” stated Wayne Lam, senior director of analysis at CCS Perception, a know-how advisory agency. “Why go to the U.S. after they might do it simply as cheaply and with a prepared workforce in South Korea?”

Final 12 months, Samsung stated it will construct its third Texas-based plant, spending $17 billion for a sophisticated chip-making plant within the metropolis of Taylor, which is situated close to Austin. The corporate has damaged floor on the ability and expects it to grow to be operational by the second half of 2024.

In keeping with the Texas state filings, Samsung might make investments practically $170 billion towards 9 new chip manufacturing services in Taylor and roughly $25 billion in Austin. Samsung submitted the filings in late Might.

If the corporate had been to make the investments, Samsung stated in a number of filings, some manufacturing can be “up and working” by round 2034 on the earliest, with others deliberate to start out manufacturing the next decade.

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Semiconductor producers Samsung, Intel and Texas Devices lately introduced plans for brand spanking new chip factories within the U.S. WSJ’s Rob Copeland visits Central Texas to study why Samsung is shifting to the area and what this sort of reshoring might imply for the American financial system. Picture Illustration: Adele Morgan.

Texas Gov. Greg Abbott stated in a Wednesday assertion that the totality of Samsung’s investments would deliver billions of {dollars} in extra capital, serving to solidify the state as “the nation’s chief within the semiconductor trade.”

It isn’t clear how a lot, if any, of Samsung’s proposed spending would come from a beforehand introduced funding plan over the following 5 years of about 450 trillion received, equal to about $343 billion. That pool of funds encompasses the whole Samsung conglomerate, together with chips but in addition biopharmaceuticals and different next-generation applied sciences.

A Samsung spokeswoman declined to touch upon the supply and different particulars of the proposed Texas investments.

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Different chip makers, together with Netherlands-based

NXP Semiconductors N.V.

and U.S.-based

Texas Devices Inc.,

have filed Chapter 313 purposes with the Texas Comptroller’s workplace, in keeping with the Texas state filings.

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The Chapter 313 tax program in Texas permits public college districts within the state to supply property tax breaks for 10 years to companies in alternate for native job creation. However this system is about to finish Dec. 31.

NXP stated in an utility submitted in Might that it might make investments greater than $1 billion in Texas by investing in present buildings or setting up new ones. Texas Devices stated in a submitting made final 12 months that it deliberate to take a position an estimated $6.5 billion over 25 years in one in all 4 new deliberate chip-making services within the metropolis of Sherman.

Write to Jiyoung Sohn at jiyoung.sohn@wsj.com

Copyright ©2022 Dow Jones & Firm, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

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Austin weather: Slight risk for severe storms in Central Texas

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Austin weather: Slight risk for severe storms in Central Texas


Rainy, stormy and cooler times are ahead and all the ingredients are coming together for the best chances of rain we have seen in the last two months. 

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A cold front along with a potent upper low will collide with the warmth and moisture to turn on the spotty light rain during the day and heavy rain and storms tonight. 

There is a marginal to slight risk of severe storms and localized flooding. 

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After the front pushes through, the weather will be wonderful for Election Day with sunny, cooler and drier conditions. Then here comes the next Pacific low to bring back the clouds and rain by the end of the week.

Buckle up, the weather pattern is turning very active all of a sudden.

Most of the rain and storms will happen tonight. The Storm Prediction Center has upgraded us to a SLIGHT risk of severe storms. This means isolated severe storms are possible generating moderate sized hail and damaging winds. 

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Two rounds of storms are possible:

  • First round: 3 – 5pm (isolated coverage)
  • Second round: 6pm – 12am (numerous coverage)

Threats will be quarter sized hail, wind gusts of 50 – 60mph and there will be a low tornado risk.

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The highest risk for hail will be along I-35 corridor and the highest risk of damaging winds from Austin to La Grange.

Rain totals are expected to be about .5 to 1″ with isolated spots possibly getting 1-2″.

Minor flooding with low-water crossings possible.

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Where can I watch the College Football Playoff rankings for Texas A&M football?

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Where can I watch the College Football Playoff rankings for Texas A&M football?


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Texas A&M football may have lost on Saturday to South Carolina, but they’re still in the running for one of the 12 spots in the College Football Playoff.

The Aggies are one of five teams in the Southeastern Conference with one conference loss. LSU, Alabama, Georgia and Texas also have one loss, opening the teams to some very complex tiebreaking scenarios.

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This Tuesday, the CFP selection committee will release its first edition of the weekly rankings and the first projection of the playoff. Texas A&M is currently ranked 10th in the AP Poll and 11th in the US LBM Coaches Poll, but their recent loss should send them a ways down the standings.

Texas A&M running back Le’Veon Moss suffered an injury to his right leg in the first quarter versus South Carolina, pushing Amari Daniels into the starting role. Texas A&M coach Mike Elko says that Marcel Reed is the “starter now” after the game versus South Carolina, but the redshirt freshman committed multiple turnovers against the Gamecocks.

Texas A&M still has to face New Mexico State, Auburn and Texas. Even with the upcoming projections, there are a lot of different ways this could all play out.

Here’s everything you need to know about the CFP rankings reveal:

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How to watch College Football Playoff rankings show

The College Football Playoff rankings show will air on ESPN, with the broadcast starting at 6 p.m. CT on Tuesday, Nov. 5. Fans can also stream the show on Fubo, which is offering a free trial.

College Football Playoff rankings release date

The first rankings will be announced on Nov. 5 A new rankings will be released every Tuesday through Dec. 5.

What time is CFP rankings?

The broadcast will start at 6 p.m. CT on Tuesday.

Texas A&M football CFP rankings projection

Coming into Week 10, ESPN’s CFP Playoff predictor had Texas A&M with a 47% chance to make the playoff, but it hasn’t updated with the recent loss. Those odds fall to less than 40% after the defeat, per pregame projections.

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If the Aggies win out and make the SEC title game, ESPN has them as the third-seed with a first-round bye, facing either sixth-seed Georgia or 11th-seed Tennessee.

Losing the title game would give Texas A&M a 67% chance to make the playoff as the 12th-seed. They would face fifth-seed Notre Dame in the first round. If the Aggies lose to the Longhorns in their final game of the season, their odds drop to 13%.

How many teams in College Football Playoff 2024?

There will be 12 participating teams in the College Football Playoff bracket. The teams will consist of the five conference champions ranked highest by the CFP selection committee, and the next seven highest-ranked teams.

How does College Football Playoff format work?

The four highest-ranked conference champions will be seeded one through four and receive a first-round bye. The fifth conference champion will be seeded where it was ranked or at No. 12 if it is outside the top 12 in the CFP rankings. Non-conference champions ranked in the top four will be seeded beginning at No. 5.

Follow the American-Statesman on Facebook and X for more. Your subscription makes work like this possible. Get access to all of our best content with this tremendous offer.

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Texas sees record early voting numbers as poll workers protect the integrity of the process

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Texas sees record early voting numbers as poll workers protect the integrity of the process


HARRIS COUNTY, Texas (KTRK) — Millions of Texans will head to the polls on Tuesday, but almost half of all registered voters in the Lone Star state have already cast their ballots.

After a much-criticized election in 2022, Harris County eliminated the election administrator position and returned the authority to the county clerk, Teneshia Hudspeth. She said they are well prepared for Tuesday’s vote.

“It is going to be interesting. It is an important time in our country,” poll worker Garfield Teixeira said.

Teixeria has served on the front lines in more ways than one.

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First, she served in the army for 22 years, but now, she’s on the front lines of democracy.

“We’re like Santa’s helpers. We’re like elves,” Teixeira said.

To Teixeira, a polling center is one of Santa’s many workshops.

She’s been helping out in Brazoria County during early voting.

“Friday, we had a lot of first-time voters. We welcomed them, and we tell them we should have a bell. Like, when you buy a car, to ring, to acknowledge them,” Teixeira said.

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So far, 8.9 million Texans have voted early, including in-person and mail-in ballots. That’s about 47% of the 18.6 million registered voters.

It is less than the vote percentage in 2020, about 57%, but due to the pandemic, we had an extra week of early voting.

“The turnout has been tremendous,” Teixeira said.

Scrutiny of the election process has grown more intense, increasing the pressure on poll workers to perform flawlessly.

“I always pull up my information and refresh myself because… from one election to another. That is a big span of time,” Shaikil Grisham, who worked as a poll worker before moving to Texas, said.

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Election monitors are tools used by the Department of Justice to keep an eye on any violations.

On Friday, top Texas election officials informed the DOJ that election monitors are not allowed in Texas polling places.

The agency had originally announced plans to dispatch machines to eight Texas counties.

The Texas secretary of state will send monitors to Harris County. The County welcomes those monitors as it has in previous elections.

For updates on this story, follow Alex Bozarjian on Facebook, X and Instagram.

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