AUSTIN | Economic Development

[WesternSon]

Originally Posted by drummer

So glad we had an offer accepted on a house already......just waiting to get those keys.

I Closed at lunch today! Such a relief, now I can cheer ATX to the MOON!

[ILUVSAT]

Originally Posted by ATX2030

https://www.sammobile.com/news/samsu...tory-location/

Samsung has finally decided where it will build its new EUV semiconductor manufacturing facility on US soil. The company reportedly had a choice between the states of Texas, Arizona, and New York, with each offering incentives for tech giants who’ll end up contributing to building the local chip-making infrastructure. And according to the local media, Samsung has decided that its next EUV-based manufacturing facility will be built in Austin, Texas.

Congrats! That's awesome news. So...when is Korean Air going to make its big announcement? I know. I know. But, I wouldn't be surprised if they began a ICN-AUS route before 2025 or 2026.

[urbancore]

Originally Posted by WesternSon

I Closed at lunch today! Such a relief, now I can cheer ATX to the MOON!

Misspelled GME

[freerover]

Very good news.

[N90]

This is a monumental development, this is huge news by Samsung.

Now all I am waiting for is the Tesla HQ relocation news to Austin. When that happens, you're all invited to my house for a pizza party.

[freerover]

If anyone is curious, this is the source reporting the news: https://english.etnews.com/20210518200001

No official word from Samsung yet but the article mentions it'll be announced in a few days.

[ATX2030]

More outlets are picking up the impending announcement. Possibly a larger investment than what has been widely reported.

https://www.koreatimes.co.kr/www/tec...9067.html?gonw

"Samsung Electronics said that it has yet to finalize details about its semiconductor investment plans, possibly in the U.S. state of Texas. But Samsung sources said that the world's top memory chipmaker may unveil larger-than-expected investment plans for the state during the summit."

[SproutingTowers]

Perhaps build their own power plant or partnership with Elon Musk so the lights stay on.

[ATX2030]

Here's another big project I believe ATX has a good shot at landing. It's a lithium-ion battery manufacturing facility.

KORE Power names Texas one of three finalists for new lithium-ion battery factory

https://www.bizjournals.com/austin/n...-facility.html

Andy Blye – Reporter, Phoenix Business Journal

...."The company said it is deciding between Florida, Texas and Arizona for a proposed 1-million-square-foot factory that would employ at least 3,000 people. KORE Power, which was founded in 2018, said this would be the first lithium-ion battery manufacturing facility owned by a U.S. company."

...."In addition to the 3,000 would-be KORE Power employees, the company estimated that the new plant would bring an additional 10,000 direct and indirect jobs to the selected region."

...."The company listed workforce capacity, proximity to land and sea trade routes, economic incentives, community support and a pro-business environment as important decision factors. KORE Power said it will announce its decision on the facility's location later this summer."

[urbancore]

Originally Posted by ATX2030

Here's another big project I believe ATX has a good shot at landing. It's a lithium-ion battery manufacturing facility.

KORE Power names Texas one of three finalists for new lithium-ion battery factory

https://www.bizjournals.com/austin/n...-facility.html

Andy Blye – Reporter, Phoenix Business Journal

...."The company said it is deciding between Florida, Texas and Arizona for a proposed 1-million-square-foot factory that would employ at least 3,000 people. KORE Power, which was founded in 2018, said this would be the first lithium-ion battery manufacturing facility owned by a U.S. company."

...."In addition to the 3,000 would-be KORE Power employees, the company estimated that the new plant would bring an additional 10,000 direct and indirect jobs to the selected region."

...."The company listed workforce capacity, proximity to land and sea trade routes, economic incentives, community support and a pro-business environment as important decision factors. KORE Power said it will announce its decision on the facility's location later this summer."

Curious if businesses consider Austin close to a port. As close as Phoenix I imagine. But if I had to place a bet, I’d say Houston or Florida.

Sure would love to have more jobs. Always.

[drummer]

Lithium-ion batteries as solutions for energy storage and e-mobility are certainly a growing industry. Problem is sourcing of cells as the vast majority (and it's not even close) come from China.

[We vs us]

I've been looking for confirmation that "Texas" means "Austin" but can't seem to find anything out on the Google. Could be up in Dallas, I guess, right?

[ATX2030]

Originally Posted by We vs us

I've been looking for confirmation that "Texas" means "Austin" but can't seem to find anything out on the Google. Could be up in Dallas, I guess, right?

Are far as I know no specific city has been identified.

[We vs us]

Originally Posted by ATX2030

Are far as I know no specific city has been identified.

I actually think Austin is a great place for it -- and maybe the best place? -- but it's still a pretty big state . . ..

[GoldenBoot]

Originally Posted by urbancore

Curious if businesses consider Austin close to a port. As close as Phoenix I imagine.

The Port of Houston is about 175 miles from downtown Austin. Corpus Christi's port is about 200 miles from downtown. Phoenix is about 360 miles from the nearest U.S. port (San Diego).

[Dariusb]

Damn, Austin is on fire!

[locolife]

Originally Posted by GoldenBoot

The Port of Houston is about 175 miles from downtown Austin. Corpus Christi's port is about 200 miles from downtown. Phoenix is about 360 miles from the nearest U.S. port (San Diego).

The real location factor is shipping product from China to the US, delivering to CA ports takes 18-30 days versus 35-45 days to TX. The mileage from the closest ports to Austin or Phoenix being 160ish miles different is de minimis. The Austin site would put the assembled product in a more central location for US distribution however.

[ATX2030]

Oh well.....

Samsung: No site decision yet for $17B chipmaking plant despite rumors

https://www.bizjournals.com/austin/n...for-plant.html

..."As part of our efforts to effectively respond to the needs of global customers and the growing demand for various applications, Samsung plans to invest $17 billion to expand our foundry capability in the U.S. We are still in negotiations over the expansion of our semiconductor manufacturing facilities, taking into consideration various factors, and are looking at a number of locations within the U.S. Specific details have yet to be decided," Michele Glaze, a Samsung spokesperson, said in a statement.

The rumors sprouted from South Korean media outlets ahead of a summit between South Korean President Moon Jae-in and President Joe Biden. The two met on May 21, and the South Korean government requested incentives such as tax deductions and infrastructure construction to curb the U.S. investment of Korean firms such as Samsung Electronics, according to a Reuters report."

[ILUVSAT]

^^^typical boilerplate response to being asked about the "rumors." They're trying to keep a lid on things for as long as they can.

[enragedcamel]

What makes Arizona such a lucrative place for tech manufacturing anyway? Does it have a particularly business-friendly political climate or is it something else?