Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
© micron - For illustrative purposes only Business | August 26, 2022

Micron mulls new chip factory in Texas

Boise, Idaho-based Micron Technology is considering an expansion to Texas – more precisely building a new manufacturing facility in the small town of Lockhart.

According to an application for tax breaks filed with the Texas comptroller's office, Micron says that it is planning to develop, “Project Evergreen,” an eight-phased semiconductor manufacturing facility. The facility will be located within a proposed reinvestment zone in Caldwell County and Lockhart Independent School District.

Micron states in the application that the state’s high property taxes is currently a hinder and that an appraised value limitation agreement is the determining factor in the decision to locate this facility within the state of Texas.

“Texas’s notoriously high property tax is often a burden on developers; thus, in the absence of a Chapter 313 value limitation agreement the economic rate of return on this project would be greater in locations outside the state of Texas. Considering the large footprint of Micron, their ability to locate this project in an area where an economic incentive agreement can be secured is highly probable,” the document reads.

Micron is asking for Chapter 313 incentives – which have been used by several high-tech companies who’ve made major investments in the state, think Samsung and Tesla. The catch is that the program is set to expire at the end of 2022.

According to the application, Micron is looking to place a USD 20 million cap on the value of the land for maintenance and operations school taxes.

If Micron’s application is approved, the company states – via the application – that it estimates to start construction of “Project Evergreen” on January 1, 2028, and to start commercial operations in late December 2030.

Ad
Ad
Ad
Load more news
September 29 2022 3:24 pm V20.8.40-1
Ad
Ad