212
submitted 6 months ago by MicroWave@lemmy.world to c/news@lemmy.world

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.

top 50 comments
sorted by: hot top controversial new old
[-] FlyingSquid@lemmy.world 92 points 6 months ago

High-speed rail funding, semiconductor factory funding... Why the fuck is Texas getting these federal perks when they've been fighting Biden the entire time?

[-] givesomefucks@lemmy.world 50 points 6 months ago

Neoliberal bargaining strategy...

Anyone that's already "blue" you ignore, because they have no other options to vote for.

So you continually give preference to conservatives in the hopes you can pull some into the Democratic party. This pulls the Dem party more conservative and perpetuates the problem.

It's pretty much why 1/3 of the country doesn't vote, and the only time in modern history Dems ran a progressive campaign, we flipped a bunch of red states.

We can easily do that again, it's not difficult. It's just not the direction party leaders want to take the party. They'd rather lose elections than move left.

[-] Ragdoll_X@lemmy.world 19 points 6 months ago* (last edited 6 months ago)

Everything I see in the news about how the dems are bending over backwards to please republicans leads me to believe that the senior democratic party members are genuinely just fucking stupid.

I guess that's to be expected since half of them are like 300 years old, but it's still really annoying to watch them just let democracy be destroyed for the sake of decorum.

[-] homesweethomeMrL@lemmy.world 17 points 6 months ago

It's at least forty years of history. After Reagan ran the table in 84, the DNC caved utterly and completely and just about never recovered.

Just an endless stream of faceless, well coiffed men in khakis and oxfords blabbering about values or some shit. Such a pathetic run of losing that even against trump they dug deep and lost that one.

[-] crusa187@lemmy.ml 12 points 6 months ago

Important to specify how they caved - they capitulated to corporate interests, and started seeking bribe money in the form of political donations in return for political favors at this time.

[-] crusa187@lemmy.ml 8 points 6 months ago

Stupid, perhaps. But it’s important to realize they all live in the same bubble in DC, and thus experience the same groupthink. When Biden refers to his Republican colleagues as “his friends,” he genuinely means it. They hang out over food and happy hours, etc every day. They likely feel much closer bonds with each other than they do with their actual constituents back home.

This doesn’t fully explain why Dems are so bad at messaging and politics in general, but I think it’s a big contributor.

[-] Fredselfish@lemmy.world 4 points 6 months ago

Our run by abunch of Republicans who ran as Democrats. Maybe they influtreded the party long ago and both are right wing. One just less so.

[-] ShepherdPie@midwest.social 10 points 6 months ago

This is exactly how we got the Affordable Care Act over single payer. Dems wanted to appease Republicans and yet still none of them voted for it.

[-] Serinus@lemmy.world 9 points 6 months ago

I suspect it was Samsung that chose Texas, and not the Feds.

[-] FlyingSquid@lemmy.world 17 points 6 months ago

The feds could have said something like, "consider Michigan and we'll give you $6.4 billion."

[-] Neato@ttrpg.network 7 points 6 months ago

Does Biden have a shot to swing it blue? Haven't kept up with voting demographics there.

[-] FlyingSquid@lemmy.world 15 points 6 months ago

I don't think he does in the current climate.

[-] aeronmelon@lemmy.world 14 points 6 months ago

Texas will secede the union and sink into the Gulf of Mexico before it becomes a democratic state.

[-] RGB3x3@lemmy.world 13 points 6 months ago

Don't get my hopes up.

load more comments (1 replies)
[-] Kelly@lemmy.world 5 points 6 months ago

Ideally where funds are invested would be decided without fear or favor.

[-] FlyingSquid@lemmy.world 15 points 6 months ago

And Texas needs these funds more than any other state? I find that spurious.

load more comments (1 replies)
[-] SkabySkalywag@lemmy.world 2 points 6 months ago

Not by choice I'm sure. Kinda like our public school books. It's a numbers and -hopefully-long game.

load more comments (21 replies)
[-] Reverendender@sh.itjust.works 27 points 6 months ago

I'm pretty sure Samsung doesn't need that money

[-] gmtom@lemmy.world 17 points 6 months ago

I mean, I'm as anti-corporation as the next sane person, but it's not like this is just a gift to Samsung.

This is just a small part of the total costs for building This facility, which is going to be absolutely massive, and the vast majority of the money is coming from the private sector. In return the US gets and incredibly important resource that makes it less dependant of countries in East Asia that are either hostile to them or are at risk of having their facilities disobeyed by those that are.

That alone is worth fare more than 6bn, and doesn't even begin to mention the economic benefits of such an endeavour.

[-] Reverendender@sh.itjust.works 3 points 6 months ago

You make good points

[-] iturnedintoanewt@lemm.ee 3 points 6 months ago

I mean, TSM already went "this isn't gonna work" and "it's not you, it's me" on them...

load more comments (9 replies)
load more comments (2 replies)
[-] Worx@lemmynsfw.com 25 points 6 months ago

Private businesses making their own way in the world with no help from anyone else. Perfect example of capitalism working as it should...

Oh wait...

[-] cygon@lemmy.world 10 points 6 months ago

Anyone remember the Foxconn building deal during the Trump presidency? It was supposed to prop Republicans up in the mid-terms of 2018.

The GOP offered a $2.85 billion subsidy so Foxconn would build an LCD panel manufacturing plant in Wisconsin. Apparently the subsidy was in the form of tax credits. Trump calls Foxconn "8th wonder of the world" despite its cost.

According to The Verge:

The renovations never arrived. Neither did the factory, the tech campus, nor the thousands of jobs. Interviews with 19 employees and dozens of others involved with the project, as well as thousands of pages of public documents, reveal a project that has defaulted on almost every promise. The building Foxconn calls an LCD factory — about 1/20th the size of the original plan — is little more than an empty shell. In September, Foxconn received a permit to change its intended use from manufacturing to storage.

As far as I can tell (from skimming over a few recent news articles), they ultimately employed about 1000 people (7%-10% of what was promised). When negative reporting on the project ramped up, Republicans claimed that incoming Democratic governor Tony Evers tried to renegotiate the deal and blamed him. When that turned out to be a lie, Republicans pivoted to the more nebulous claim that Foxconn bailed because Wisconsin was unfriendly to business under its fresh Democratic governor.

This could be a great side-by-side comparison on how Dems vs. Reps handle such a project, but I doubt the average person caught in the news cycle still remembers Foxconn after nearly 6 years). 😅

[-] bradorsomething@ttrpg.network 9 points 6 months ago

Aren’t there even cheaper, lower wage states we can build these chips in? What about building the plant in Alabamistan, and having the cheap texas engineers flown in as needed?

[-] Breezy@lemmy.world 6 points 6 months ago

Wow they get a Samsung factory and a bullet train back to back.

[-] Nerrad@lemmy.world 6 points 6 months ago

Way to help Ted Cruze and that little nazi governor. Wtf.

[-] Jackcooper@lemmy.world 4 points 6 months ago

Hoping Texas becomes a purple state maybe

[-] ME5SENGER_24@lemmy.world 6 points 6 months ago

FUCK TEXAS.

[-] capem@startrek.website 5 points 6 months ago

Love corporate handouts.

load more comments
view more: next ›
this post was submitted on 15 Apr 2024
212 points (97.7% liked)

News

23260 readers
3751 users here now

Welcome to the News community!

Rules:

1. Be civil


Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.


2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.


Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.


3. No bots, spam or self-promotion.


Only approved bots, which follow the guidelines for bots set by the instance, are allowed.


4. Post titles should be the same as the article used as source.


Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.


5. Only recent news is allowed.


Posts must be news from the most recent 30 days.


6. All posts must be news articles.


No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.


7. No duplicate posts.


If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.


8. Misinformation is prohibited.


Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.


9. No link shorteners.


The auto mod will contact you if a link shortener is detected, please delete your post if they are right.


10. Don't copy entire article in your post body


For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 1 year ago
MODERATORS