Samsung offered tax rebates for 30 years to build $17bn chip plant in Texas
'No decision has been made' super-corp reminds El Reg
The city of Taylor, Texas, has offered Samsung property tax breaks over the course of 30 years if the South Korean chip giant agrees to build a $17bn fabrication plant on its land.
Samsung is shopping around for plots to expand its chip manufacturing presence on US soil, and is considering spots in Texas, Arizona, and New York, we’re told. Officials representing Williamson County and its city of Taylor in the US state published an outline of their proposal [PDF] to Samsung ahead of a scheduled meeting with representatives from the chaebol on September 8.
The city offered to pay a series of grants, covering the costs of 92.5 per cent of property taxes for the first ten years, 90 per cent over the following ten years, and 85 per cent over the next ten years after. All in all, Samsung would receive tax subsidies over 30 years if it chooses to build a plant in Taylor. The move is expected to bring in 1,800 jobs within seven years of ground being broken.
“Taylor is an incredible place, a fact that is being increasingly recognized by people and businesses far and wide,” Mayor Brandt Rydell told The Register.
“We welcome businesses that are good corporate citizens, community-oriented, and committed to offering good jobs and still better opportunity. The City of Taylor is honored to be considered for this critical project and, if selected, we look forward to a long-term relationship benefiting the company and our community for generations to come.”
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Speaking of semiconductor makers... Intel CEO Pat Gelsinger said on Tuesday that his processor giant is willing to spend as much as $95bn on chip factories in Europe. Specifically, two facilities may be built at a site on the continent, he said.
The potential site up for grabs is a little over 1,187 acres and located southwest of downtown Taylor off state highway 79. Samsung already has a campus in Austin, Texas. Its chip plant had to temporarily shut down in February this year when the state’s main energy grid suffered a power outage due o a severe winter storm.
“No decision has been made by Samsung on a site for a potential expansion,” a spokesperson for the mega-corp told The Register.
“All sites are under consideration and each community is performing the appropriate due diligence to put themselves in the best position for this opportunity. The actions by Williamson County and City of Taylor are part of their due diligence.” ®