Covington & Burling LLP
02/04/2025 | Press release | Archived content
Covington Guides Samsung to $4.745B CHIPS Act Award
WASHINGTON - Covington represented Samsung Electronics, one of the world's largest chip manufacturers, in an application process with the U.S. Department of Commerce to receive $4.745 billion in direct funding under the CHIPS Incentives Program's Funding Opportunity for Commercial Fabrication facilities.
The program is one of the major projects created under the 2022 CHIPS and Science Act, which allocated $39 billion to bolster the U.S.'s domestic production of semiconductors. With Samsung's award, the U.S. is now the sole country with fabrication facilities from the top five global semiconductor companies.
The government funding will support Samsung's $37 billion investment into the development of an advanced semiconductor manufacturing cluster on a 1,300 acre site in Central Texas. It is also estimated to create more than 15,000 domestic construction and manufacturing jobs over the next five years.
The Covington team included Mike Wagner, Daniel Raddenbach, Akash Shah, and Jasmine Wang (Government Contracts); Andy Jack, Jennifer Uren, Robert Quinn, and Joon Kwon (Corporate); Gary Guzy, Thomas Brugato, Jayni Hein, Tyler Williams, Martin Levy (Environmental); Peter Lichtenbaum, Heather Finstuen, and Kwan Kim (Regulatory); Jamin Koo and Kurt Baca (Tax); and Winslow Taub and McCall Wells (IP).
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