Samsung Austin Semiconductor Pumps $13.6 Billion into Central Texas Economy in 2022

Additional Investment of $4.2M for Community Organizations in 2023

For nearly three decades, Samsung Austin Semiconductor has been an integral part of the community by being a driver of job creation and employment, economic impact and engagement within the community.

Since its establishment in 1996, Samsung Austin Semiconductor has invested more than $18 billion in its Austin campus. In late 2021, Samsung Electronics announced a $17 billion investment to build a new semiconductor manufacturing facility in Taylor, Texas. Bringing new jobs and enhancing workforce development initiatives, Samsung’s investment in Taylor – Samsung’s largest-ever in the U.S. – will build supply chain resilience of crucial chips while contributing to the development of the local community.

With this investment, Samsung, the only semiconductor company to hold a dominant technology lead in both memory and logic chip technologies, will have made a total investment of $35 billion in advanced manufacturing in Texas and a total of $47 billion in the U.S.

According to an economic impact analysis performed by Impact DataSource, in 2022, Samsung’s Austin manufacturing site along with the Taylor construction site injected $13.6 billion into the local economy—more than double compared to $6.3 billion in 2021.

Austin impact

In 2022, the Austin campus located on East Parmer Lane contributed $9.3 billion to the local economy and provided $912 million in workers’ salaries.

The Austin site, which operates two manufacturing facilities, supports 14,312 jobs in the area—4,377 of which are direct employees, and 9,900+ are indirect workforce such as partners, vendors and contractors.

According to the report, the estimated revenues received by taxing districts in 2022 totaled more than $182 million, with more than $17 million paid in property taxes.

Taylor impact

Construction on the new Taylor site located along Farm to Market 973 started in early 2022. In that year, construction activities at the Taylor site injected $4.2 billion into the local economy and supported a total of 4,643 direct and construction jobs. $1.9 billion was spent on construction alone.

While the initial construction phase is benefiting the local economy, the continued economic impact for the City of Taylor and Williamson County will be substantial. Once completed, the Taylor facility is expected to create an estimated 2,000 new permanent jobs within the first 10 years, as well as support a number of indirect jobs in the area.

According to the Texas Comptroller’s Office, the City of Taylor’s cumulative sales and use tax revenue through February 2023 was $8.1 million—$5.5 million more than the same time period for fiscal year 2021-2022.

Community contributions

From education at all levels and workforce development that expands on advanced manufacturing opportunities, to STEM programs, Samsung is committed to giving with the power to affect real, positive change.

In 2022, Samsung Austin Semiconductor’s charitable donations totaled more than $1.5 million and benefited more than 50 organizations. In a separate contribution, the company donated $1 million to support nonprofits that are impacting the lives of Taylor residents.

Samsung is building on its commitment to charitable giving and partnerships in the Central Texas region in 2023, recently announcing a total of $4.2 million to more than 60-plus organizations that are addressing important community needs such as food insecurity, mental health and wellness and more. 

This also includes recent $1 million donations to  The University of Texas at Austin’s Cockrell School of Engineering, University of Illinois at Urbana Champaign’s Grainger College of Engineering and Texas A&M University’s College of Engineering.

Samsung Austin Semiconductor has also established a program with the Taylor Independent School District to employ  two dozen high school students each summer as interns as part of an ongoing partnership agreement with the school district, city and county.

As part of the Samsung Gives program, employees donated nearly $400,000 to more than 400 charities in 2022, and the company matched $225,000 (company matches up to $1,000 per year in employee charitable donations).

Every year, employees also volunteer thousands of hours with area nonprofits.  

With more than 4,500 employees, Samsung Austin Semiconductor is a premier and growing employer who provides a great place to work, is committed to environmental stewardship and being a good corporate citizen and a leader in Central Texas.

Click here to read our 2022 Social Impact Report.