© Samsung (illustration purpose only) Business | September 06, 2021
Texan money to entice Samsung
Taylor, a city in Texas, wants Samsung Electronics to build its USD 17 billion semiconductor manufacturing facility in their backyard.
The city wants to offer extensive property tax breaks if chosen by the South Korean tech giant. More so, Taylor is interested in attracting the 1'800 new jobs, that come with the new production facility. “We are excited about the opportunity to bring a significant economic development project with thousands of jobs to Williamson County and the great state of Texas," said County Judge Bill Gravell to Taylor Press news outlet. "Good paying jobs for all skill levels to drive economic growth in our region are needed now more than ever, and we are committed to doing everything we can to land this project and bring it home to Williamson County.” One of the proposed resolutions suggests the land to be offered a grant equivalent to 92.5% of assessed property tax for 10 years, 90% for the following 10 years and then 85% in the 10 years after that. Samsung has also said it is looking at other potential sites in Arizona, New York and Texas.
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