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"Governor Greg Abbott today met with President Lai Ching-te of Taiwan while in Taipei on the first full day of a three-nation economic development mission to Taiwan, South Korea, and Japan."
"Following the meeting with President Lai, Governor Abbott joined Taiwan Minister of Economic Affairs Jyh-Huei Kuo for a historic signing of an Economic Development Statement of Intent (EDSI) between Texas and Taiwan. The EDSI was signed in recognition of the strong economic ties between Texas and Taiwan and to encourage more investment, trade, and collaboration in key industries to support the future of innovation.
The signing was followed by the official announcement of the State of Texas Taiwan Office. Operating within the Office of the Governor under the Texas Economic Development & Tourism Office, the State of Texas Taiwan Office will facilitate closer cooperation and foster mutually beneficial economic growth and cultural exchange. Following the historic announcement, Governor Abbott attended a luncheon hosted by the Taiwan Minister of Foreign Affairs Lin Chia-Lung where the Governor met with business leaders from across Taiwan."
I wonder if this has something to do with Samsung scaling back operations in Texas?
During the meeting, Governor Abbott and President Lai explored opportunities for Texas and Taiwan to work together to strengthen trade relations and investment in critical economic drivers like the semiconductor, energy, and electric vehicle manufacturing industries. The Governor also highlighted the countless economic opportunities Texas offers companies from across the globe, including a highly skilled workforce, low taxes, and the best business climate in the United States.
I wonder if this has something to do with Samsung scaling back operations in Texas?
During the meeting, Governor Abbott and President Lai explored opportunities for Texas and Taiwan to work together to strengthen trade relations and investment in critical economic drivers like the semiconductor, energy, and electric vehicle manufacturing industries. The Governor also highlighted the countless economic opportunities Texas offers companies from across the globe, including a highly skilled workforce, low taxes, and the best business climate in the United States.
Arizona opened a trade promotion office in Taipei in March 2023, so Texas’s trade office in Taipei seems to be a bit of a catch-up effort. In fact, Arizona had been lobbying Taiwan and TSMC for many years before the announcement to build the TSMC fabs in Phoenix Arizona in May 2020. I think Arizona's success demonstrates to many U.S. state governments that these relationships need to be nurtured well in advance of any significant investment, especially for multi-billion-dollar projects.
Texas might be eyeing semiconductor supply chain investments from Taiwan. While the progress of Samsung’s Taylor, Texas fab could be a concern, it’s probably too early to take any significant action.
Taiwan’s GlobalWafers, the world’s third-largest supplier of silicon wafers, broke ground on its Sherman, Texas plant in 2022. This is the first new 300mm wafer production facility to be built in the U.S. in the past 20 years. It will cost $5 billion to build and has been awarded $400 million through the CHIPS Act.
