Samsung Electronics this week announced a $17 billion semiconductor fab destined for Taylor, Texas, ending months of rumors regarding the foundry operators U.S. expansion plans.

The 5-million-square-meter facility outside of the state's capital of Austin, will manufacture products based on Samsung’s advanced process technologies for applications including mobile, 5G, high-performance compute (HPC), and artificial intelligence (AI). It will also be located less than 200 miles from Samsung Electronics America's headquarters in Plano, Texas.

“As we add a new facility in Taylor, Samsung is laying the groundwork for another important chapter in our future,” Samsung Electronics CEO Kinam Kim said in a statement. “With greater manufacturing capacity, we will be able to better serve the needs of our customers and contribute to the stability of the global semiconductor supply chain.”

The facility is expected to break ground in the first half of 2022, and come online in the second half of 2024. Samsung expects the plan to create more than 2,000 jobs once the plant is operating at full capacity.

In a statement, Samsung cited several factors that lead to the foundry expansion's development in Taylor, including the existing semiconductor ecosystem in the region, infrastructure stability, local government support, and community development opportunities. These opportunities include funding for the Taylor Independent School District to provide opportunities for students to explore the semiconductor manufacturing business.

The Texas plant has reportedly been under consideration since January. This summer, speculation over the facility ramped up again after Samsung announced $200 billion in capex expenditures over the next three years to bolster its capacity and meet growing demand for semiconductors.