Silicon Valley has lately been a talk of town everywhere and amidst the impending high profile visit by Indian PM in the Bay area, now Samsung has officially entered the region with its new office in Silicon Valley.
Worth $300 million and spread over a 1.1 million-square-foot site along with a 10-story office tower, seven-story parking garage and a green space that links the campus together, Samsung’s new office is merely 12 miles away from Cupertino, the home of its fiercest rival Apple.
It has a capacity for over 2000 employees and it the will initially have 700 employees stationed in the office which will house its R&D and sales operations for its US semiconductor business. The office was inaugurated in a grand opening ceremony in the presence of dignitaries such as Samsung Electronics vice chairman and co-CEO Oh-Hyun Kwon; mayor of San Jose, Sam Liccardo; and the former mayor of San Jose, Chuck Reed.
“[We are] laying the groundwork for a more aggressive pace of growth over the next several decades,” said Samsung’s co-chief executive, Dr. Oh-Hyun Kwon, at the grand opening ceremony. Till now the presence of Samsung in the valley was largely scattered, even though it has been here for over 30 years since it first entered the San Jose region in 1983.
In addition to the new office, Samsung also announced a $1 million STEM College Education Scholarship Fund which will cover tuition and living expenses of students for one year who are currently enrolled in STEM-focused programs at a California State or University of California school