Samsung eyes Texas for $17 bln chip plant

Samsung Electronics is eyeing Austin, Texas as the possible site for a new 17 billion dollar chip plant.

That's according to documents filed with Texas state officials.

The South Korean giant says the deal could create around 1,800 jobs.

But it may hang on what kind of incentives are on offer.

Samsung is seeking combined tax abatements of more than 800 million dollars over 20 years from Austin and Travis County.

If the Texas site is selected, Samsung says it will break ground in the second quarter, and have the plant operational by late 2023.

The firm says it's also looking at alternative sites in Arizona and New York states, as well as at home in South Korea.

It's potentially a big win for U.S. chipmaking.

While Intel does make some semiconductors there, most of the contract manufacturers that make chips for other companies - including Samsung - are based in Asia.

Last year Samsung rival TSMC disclosed plans for 12 billion dollar chip plant in Arizona, due to come online in 2024.