The Biden administration has reached an agreement to provide up to $6.4 billion in direct funding for Samsung Electronics to develop a computer chip manufacturing and research cluster in Texas.
The funding announced Monday by the Commerce Department is part of a total investment in the cluster that, with private money, is expected to exceed $40 billion. The government support comes from the CHIPS and Science Act, which President Joe Biden signed into law in 2022 with the goal of reviving the production of advanced computer chips domestically.
“The proposed project will propel Texas into a state of the art semiconductor ecosystem,” Commerce Secretary Gina Raimondo said on a call with reporters. “It puts us on track to hit our goal of producing 20% of the world’s leading edge chips in the United States by the end of the decade.”
Raimondo said she expects the project will create at least 17,000 construction jobs and more than 4,500 manufacturing jobs.
Because Texas is currently the most valuable, most important, and fastest-growing state in the nation
Well if you can’t trust “RealLifeLore” on YouTube, who can you trust?
Texas has a 5 cent return on every federal dollar it receives.
New Mexico, 40 cents.
https://www.moneygeek.com/living/states-most-reliant-federal-government/
Maybe it doesn’t need more federal dollars if it’s such a paltry return.
Yeah, I definitely feel more comfortable trusting a random, terminally online Lemmy user who’s oddly concerned with one metric over the ton of diverse statistics provided in the video. One might wonder why you’re so skeptical about the channel.
Also, I don’t think New Mexico is your best go-to example (or you just don’t understand the data and thought “biggest number goodest”), since West Virginia for example has a return of 26 cents on every dollar, and since New Mexico is the second-most federally dependent state in the nation, providing the second least tax contribution in return for its federal funding in the nation. For every $1 it pays in federal taxes, it receives $3.26 in federal funding, so of course it’s going to have one of the highest local returns on the tax dollars it pays. In terms of states that actually contribute to the nation, New Mexico is one of the worst examples.
I don’t agree with the way that Texas is currently being run economically, but that doesn’t change the fact that its enormous, booming economy provides a huge net surplus to the nation given its GDP, and that it therefore more than warrants this sort of investment from the federal government.
I didn’t bother reading past the insult.
I am a “terminally online Lemmy user” because I am very sick. I just got back from the Mayo Clinic a couple of weeks ago. I don’t get out much. I’m sorry that offends you.
Yeah, why bother contributing to the conversation and potentially educating yourself when you can just fall back on getting offended and playing the victim instead!
The only reason I framed my comment the way I did was because of your flippant, entirely unjustified attack on RLL’s credibility. I suppose I should be equally sorry that approachable, informative content offends you.
Once again, did not read past the insult. Not interested.
Not sure why I’m surprised at the hypocrisy. I’ll remember that the next time I try to engage in good faith with users like you.
Remember what you like. Just don’t expect to keep insulting people and get away with it if the mods notice.
3rd world countries have more reliable power grids than Texas. Texas the only state where you can just freeze to death if you have a few cold days because the power grid is so shit.
Third world countries definitely don’t, especially at Texas’ scale, but I get your point.
Even so, if Intel’s ok with the power distribution situation, I don’t really see how your comment is relevant to the thread.
You said it’s the most important and valuable state and I refuted that by saying they can’t even supply electricity to the people living there.
Sorry I didn’t circle jerk agree with you but it’s very relevant to the comment you posted.
That has very little real impact on Texas’ import or value, especially when events like the ones in question are incredibly rare. I’m happy to have a critical conversation about how Texas’ energy policy is hurting its citizens and is ultimately self-defeating, but even if Texas had widespread, daily rolling blackouts it wouldn’t change the fact that it’s demonstrably the most important and valuable state at the moment.
That’s like me arguing that bitcoin isn’t the most important and valuable cryptocurrency by pointing out how much energy it uses and how horrible it is for the environment - that’s also true, but has very little to do with the conversation at hand.
I mean you are just factually wrong about Texas being the most valuable and important state. Come talk to me when Texas is the is the 5th largest economy in the world like California. Come talk to me when Texas isn’t violating human rights.
Texas isn’t valuable or important and is on the verge of collapse as people are moving out in droves.
“Sorry I didn’t circlejerk” they sniff with superiority as they bravely parrot “blue state good, red state bad” in News@lemmy.world. Yet again, however, this conversation isn’t about which state is good and which state is bad - it’s about which is more important and valuable, and in both cases, the clear answer is Texas.
You’re correct that it’s not currently the largest state economy (Texas would be the 8th largest economy in the world), but you’re ignoring the fact that Texas’s economy and population is growing much faster than California’s (whose population is currently shrinking), which is the relevant metric here, fueled by its natural resource wealth, strategic position, and appealing location for both public and private investment. In the long term, Texas is currently significantly more valuable than California is, and is on track to eclipse its sister state in both economic size and population in the next decade or so.
That has nothing to do with whether this is a good thing or not, of course, but it is a demonstrable fact.
Come talk to me when you can separate your performative moral outrage from a conversation it’s not even relevant to.
Unfortunately, you being real, real mad at the big meanie red state doesn’t change the fact that Texas is seeing an economic and population boom that hasn’t been seen in the US in decades. And while it’s certainly possible that their deeply unpopular policies may inhibit this growth somewhat, that hasn’t been borne out by the data (yet).
I’m not even a liberal or a Democrat voter lol, has nothing to do with red state or blue state but you outted yourself as some dumb fucking MAGA chud.
Yup, I’m so outed by my… citing mainstream sources supporting completely uncontroversial and widely accepted facts, which “MAGA chuds” are well known to do, of course. rolls eyes
Y’all really need to chill on the tribalism bullshit here for a second or so, hey?