The new factory is part of an effort by the South Korean tech giant to raise its manufacturing capacity and help stem a worldwide chip shortage.
The 5-million-square-meter facility will be built in Taylor and will be used for producing advanced logic semiconductors for phones, computers, 5G and artificial intelligence.
Construction on the factory is scheduled to get underway in the first half of 2022, with the company aiming to have it operational by the end of 2024. It is expected to create 1,800 jobs. The $17 billion expected investment will be the biggest investment the company has ever made in the United States and includes buildings, machinery, equipment and property improvements.