Samsung Considers Austin for $17 Billion Chip Plant, Eyes Tax Breaks of at Least $806 Million
upstart writes in with an IRC submission for c0lo:
Samsung Electronics Co Ltd is considering Austin, Texas, as one of the sites for a new $17 billion chip plant that the South Korean firm said could create 1,800 jobs, according to documents filed with Texas state officials.
The tech giant is seeking combined tax abatements of $805.5 million over 20 years from Travis County and the city of Austin, among other tax breaks, according to the documents.
Samsung said in its filings that if Austin is selected, the company would break ground on the site in the second quarter of this year and that the plant will become operational in the third quarter of 2023.
"This project is highly competitive, and the company is looking at alternative sites in the US including Arizona and New York, as well as abroad in Korea...," Samsung said in the documents, adding that it is taking into account access to talent, chip ecosystem and speed to market in its evaluation of the sites.
[...] TSMC, which counts Apple Inc among its major customers, last year disclosed plans for a $12 billion chip plant in Arizona expected to come online in 2024.
Also at: Austin American-Stateman, Dallas News, CNBC, and Yahoo!.
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