Samsung Austin Semiconductor’s announcement that it will build the next generation Seminconductor plant in Austin which will make this facility the largest investment by a foreign company in the United States. This is the first 300mm fab in Central Texas with only six in existence or under construction in the United States.

“We are thrilled that Samsung chose Austin,” said Tim Crowley, Chair of the Greater Austin Chamber and President of the Community Banking Group for Frost Bank. “Samsung has been a major economic influence in our region and clearly will continue to be one as we grow and prosper together.”

With plans for a new facility and employee growth, the Samsung expansion will help to propel Opportunity Austin, the Greater Austin Chamber’s five year initiative aimed at creating 72,000 jobs and a $2.9 billion increase in payroll to the five county region by the end of 2008. On March 22, the Greater Austin Chamber announced that 47,600 jobs have been added to the region since the inception of Opportunity Austin in 2004. The new investment for a 300mm (12-inch) fabrication line is a strong indicator of the rebound taking place in the technology sector in Austin.

“This puts a stamp of approval on Austin, Texas that will be heard around the world,” said Gary Farmer, Chair of the Greater Austin Economic Development Corporation and President of Heritage Title Company. “Opportunity Austin is an intense regional effort to place Central Texas at the front of the economic development race. This decision clearly validates Austin’s position in the worldwide technology arena.”

Samsung currently has invested $1.9 billion in their 300 acre site in Northeast Austin and employs 1,100 workers.