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The project is estimated to create 17,000 construction jobs (temporary, feels wildly overestimated as well) and 4500 manufacturing jobs.
If you just have that $6.4B to the 4500 who would get a permanent job out of it that would be $1.4million each, probably enough for them to retire.
But no we need workers so give that money to corporations that already have billions of dollars.
Then you've lost 6.4 billion and there's no valuable commodity being produced
Thank you for calling that out. I just hope this doesn't turn into another foxconn situation like in Wisconsin.
$1.4 mil is probably not enough for someone to retire unless they were only a decade away from retirement anyway. And let's say one of these workers has a 30 year career at this factory that's only $46k/year, which isn't a lot, especially for a skilled worker. So if we assume and average wage for these jobs is $80k (probably an underestimate) then that's only 17.5 years before Samsung pays put more to employees than it got from the government, and realistically these factories will be operating for many decades if all goes well.
And that's ignoring both the construction jobs and the downstream jobs that would be needed to support 4.5k workers. As well as the money the government will make back on various taxes from both income and manufacturing and savings from procuring chips locally instead of shipping them.
And also massively ignoring the importance of domestic chip manufacturing which given the current state of things and potential future conflict could legitimately be the difference between that stops NATO losing a war with China. Which is the main thing this project is about and is worth so so so much more than 6bn