- Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM), rival Samsung Electronics Co Ltd (OTC:SSNLF), aims for a $17 billion chip-making plant in Taylor, Texas, the Wall Street Journal reports.
- The Taylor facility, located in central Texas, looks to create 1,800 jobs. However, the facility will not commence chip production before 2024 end.
- Taylor had offered incentives that include the equivalent of property-tax breaks of up to 92.5% for the first ten years.
- The Taylor factory will serve as an advanced chip-making facility for Samsung’s contract-manufacturing operations.
- In October, Tesla Inc (NASDAQ:TSLA) migrated its headquarters to Austin shortly after CEO Elon Musk had moved to the Lone Star State.
- Taylor is about 30 miles away from Austin. The planned site of roughly 1,200 acres is much larger than Samsung’s property in Austin.
- Price Action: TSM shares traded lower by 0.60% at $124 in the premarket session on the last check Tuesday.
What In The World Is Going On With First Republic Bank (FRC) Stock Today?
First Republic Bank (NYSE: FRC) shares are trading lower by 61.5% to $31.44, though off the session and 52-week low of $17.53, Monday afternoon.
