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.
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.