AUSTIN (KXAN) — Austin has continued to attract high tech companies from all over the world, and growth is not slowing down.
Even surrounding communities like Taylor are seeing the impact with Samsung building a large facility in the community.
Fueled by the CHIPS Act, which went into law in 2022, is seeing more and more semiconductor companies. Companies who are affiliated with semiconductor are coming to the United States and Texas.
Friday In Elgin, Yerico Manufacturing broke ground on a new location. The company repairs and refurbishes semiconductor equipment.
Sales Director Art Gonzales said Yerico Manufacturing works with companies like Samsung, which is just down the road.
“It is a good time to expand and grow and to be able to gain some of that ground to be able to support them,” Gonzales said. .
Yerico will add two large facilities one of them a 20,000 square foot building and the other a 30,000 square foot building.
The company also plans to hire at least 40 new employees.
Last September, Samsung announced a $37 million dollar commitment to the University of Texas in order to bolster a semiconductor ecosystem in Central Texas.
The partnership includes funds for recruiting and supporting students to study semiconductor manufacturing in the Cockrell School of Engineering and other majors across the University.
“The future is bright in terms of job growth and job opportunity,” said Roger Bonnecaze, the Dean of UT’s Cockrell School of Engineering.
Bonnecaze said there are a number of reasons that are drawing more companies to Texas and the Austin area.
“The tax structure is attractive to a lot of businesses to move to Texas,” Bonnecaze said.
Having the University of Texas and an abundance of engineering students nearby is also a draw.
“Among the attractions for them is a great workforce to tap into and part of that is all the folks we educate at the University of Texas,” Bonnecaze said.
A report by the semiconductor industry association shows the industry workforce will grow by nearly 115,000 jobs by 2030.