Austin, Texas, has fared quite well since the financial crisis. A key reason has been the continued growth of its tech sector. Keep in mind that the city has a thriving startup ecosystem and also has attracted mega companies like Google (NASDAQ:GOOG), Apple (NASDAQ:AAPL) and Facebook (NASDAQ:FB).
And the news seems to be getting better. Today, Samsung Electronics announced that it plans to invest $4 billion in its Austin semiconductor plant.
Essentially, this is a part of the company’s plan to focus on higher-end chips, which are seeing huge demand from smartphones and tablets. Samsung is the exclusive manufacturer for Apple’s A-series of chips.
Interestingly, Tim Cook has said that the core of the iPhone and iPad is Austin. And in light of the Samsung investment, it looks like this will remain the case.