Samsung eyeing up New York as potential location for its $17 billion plant

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Samsung is eyeing the state of New York for a brand new fabrication plant, according to a new report by Times Union. Initially, Samsung had zeroed in on Arizona for its new 5nm plant, but it appears that New York is a contender, too.

Company executives are examining the benefits both states have to offer and is also looking at Genesee County as a potential site. There is, however, a possibility that it will ditch the United States altogether and set shop back in South Korea.

Tax breaks will decide which state gets billions from Samsung

Estimates say that the New York plant could cost Samsung up to $17 billion to set up. It isn’t immediately clear as to which products will be manufactured at the new plant, but we’re probably looking at 5nm chipsets. Samsung could also use it to bolster its 8nm wafer production, given its sky-high demand from Nvidia for its high-end GeForce RTX 3000 series of graphics cards.

The US federal government is expected to offer up to $2 Billion in tax breaks to Samsung for setting up a plant within its borders. The company would also prefer substantial tax breaks from local government entities to fund the required infrastructure improvements.

Samsung will create 1,800 new jobs in the region, which could be located at Western New York Science & Technology Advanced Manufacturing Park. Also known as WNYSTAMP, the facility spans over 1,250 acres and is host to several tech companies such as IBM and GlobalFoundries. The report adds that there is a possibility that Samsung’s facility could be located elsewhere.

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