AUSTIN | Economic Development

[The ATX]

Originally Posted by ATX2030

Elon Musk predicts Austin, Texas will be 'the biggest boom town that America has seen in 50 years'

https://www.businessinsider.com/elon...0-years-2021-2

As long as the weather situation over the next few days doesn't scare off all the California transplants.

[ATX2030]

What a $17B Samsung investment might look like

https://www.bizjournals.com/austin/n...nvestment.html

By Kathryn Hardison – Staff Writer, Austin Business Journal

"Here's how the investment would break down: roughly $11.4 billion would go toward equipment and machinery, while construction of the facility would cost about $5.6 billion, according to an investment schedule included in the company's application for Chapter 313 incentives."

"Based on just dollars invested, Samsung's plant would eclipse all of the major incentives-seeking projects in Texas combined during the past five years, according to a list of incentives deals from the governor's office."

[StoOgE]

Relevant info for Samsung. This could be pretty big for chip manufacturing stateside in general. Also, maybe we can all get PS5s and 3070s soon, lol

https://www.engadget.com/joe-biden-e...194553846.html

[The ATX]

Samsung filed a site plan within the last hour (at least it showed up online in the past hour) for:

Modification to west portion of site including surface lot and grading of east portion of site including rough grading to proposed elevations

The proposed use is:

"manufacturing"

https://abc.austintexas.gov/public-s...rtyrsn=3261532

Of course this could easily be for something other than the new fab.

[The ATX]

Samsung is keeping info private like Tesla. From a recent Samsung permit filing:

[We vs us]

I mean... I shouldn’t say this, but doesn’t this just scream “we’re secretly building a high tech factory?”

[clubtokyo]

Yeah if this was for something else I don’t they would go through trouble of keeping it private.

[Novacek]

Originally Posted by We vs us

I mean... I shouldn’t say this, but doesn’t this just scream “we’re secretly building a high tech factory?”

The application doesn’t necessarily guarantee Austin for the site selection though. They could have an approved site permit and not end up using it, and only be out the application fee/design work.

[wwmiv]

Originally Posted by Novacek

The application doesn’t necessarily guarantee Austin for the site selection though. They could have an approved site permit and not end up using it, and only be out the application fee/design work.

Whereas by not doing it (here and/or elsewhere) they’d be losing out on hundreds of millions in potential unearned revenue because the project isn’t shovel ready by permit resulting in construction delay.

[urbancore]

My source says Samsung chose Austin.

[We vs us]

Originally Posted by urbancore

My source says Samsung chose Austin.

Kinda feels like it, TBH.

[clubtokyo]

Samsung apparently lost millions from power being out. Eeeek might not bode well for the new factory?

[Echostatic]

"Millions" is very broad, and generally not much when it comes to the semiconductor industry. The plants cost billions and make billions. I doubt it matters all that much in the grand scheme of things if there's a shutdown once every decade or so (2011, 2021)

[Riverranchdrone]

Samsung like NXP lost tens of millions. Most will be recovered through insurance. We are just now starting the process of getting the NXP factory up and running. Hundreds of wafers will have to be scrapped. We could not get them in a safe position with the hour the city gave us to shut down.

[ATX2030]

Austin's most expensive home, a 9-acre lakefront estate, just sold to an unknown buyer as tech workers rush to the Texas city

https://www.businessinsider.com/aust...as-city-2021-3

A 9-acre estate in Austin, Texas, last listed for $38.9 million just sold to an unknown buyer.

[We vs us]

Originally Posted by ATX2030

Austin's most expensive home, a 9-acre lakefront estate, just sold to an unknown buyer as tech workers rush to the Texas city

https://www.businessinsider.com/aust...as-city-2021-3

A 9-acre estate in Austin, Texas, last listed for $38.9 million just sold to an unknown buyer.

Meanwhile, Austin-area housing market stays hot, sets January records

https://www.statesman.com/story/busi...ds/6782270002/

Home sales up 24% YOY, prices increase 20%. 0.4 months of inventory, a record low.

[The ATX]

Breaking news says SpaceX is building a manufacturing facility in Austin. I haven't seen an article with many details though.

The company SpaceX is breaking ground on a “new, state-of-the-art manufacturing facility” in Austin. That’s according to a new update on the company’s website where jobs are posted.

https://www.kxan.com/news/local/elon...ity-in-austin/

[chinchaaa]

Originally Posted by The ATX

Breaking news says SpaceX is building a manufacturing facility in Austin. I haven't seen an article with many details though.



https://www.kxan.com/news/local/elon...ity-in-austin/

Wow, this is exciting! "Austin, we have liftoff... "

[The ATX]

Here's a CNBC article. The factory is for Starlink equipment.



https://www.cnbc.com/2021/03/02/spac...tin-texas.html

[We vs us]

On one level, it sounds like it’s a factory that builds routers for your home. Not the most exciting consumer goods on the planet. On another level, it really does keep building the case that Musk is going to continue to pile in to Austin. Makes me wonder what else he has in store for TBC and Neuralink.