• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Texas city to offer Samsung large property tax breaks to build $17 billion chip plant

September 6, 2021 by David Barret Leave a Comment

September 6, 2021

(Reuters) – The city of Taylor, Texas – one of two locations in the state under consideration by Samsung Electronics for a $17 billion chip plant – plans to offer extensive property tax breaks if it is chosen by the South Korean tech giant.

Taylor is competing with Austin, Texas to land the plant which is expected to create about 1,800 new jobs. Samsung has also said it is looking at other potential sites in Arizona and New York.

Other potential sites have yet to disclose planned tax breaks.

A proposed resolution posted on the city’s website shows that for the land Samsung will use, it is set 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.

Other measures include a 92.5% tax waiver on new property built on the site for 10 years and the repayment of development review costs.

The proposed resolution will be considered on Wednesday by the Taylor City Council and Williamson County Commissioners.

The Taylor site is located about 25 miles (40 kilometres) from Austin. It is about 1,187.5 acres (4.81 square kilometres)in size, much bigger than the Austin site. Samsung last year purchased more than 250 acres in Austin, which is in addition to 350 acres it owns that includes its sole U.S. chip factory.

If Samsung decides on Taylor, it plans to break ground by the first quarter of next year with production due to start by end-2024, a document previously filed with Texas state officials has said. [nL4N2OS0M5

(Reporting by Joyce Lee; Editing by Edwina Gibbs)

Source Link Texas city to offer Samsung large property tax breaks to build $17 billion chip plant

David Barret
David Barret

Related posts:

  1. Exclusive-Apple hit with antitrust case in India over in-app payments issues
  2. Get 50B of data for just £12 a month with this unbeatable Smarty SIM only deal
  3. FTC bans spyware maker SpyFone, and orders it to notify hacked victims
  4. The only one way to tackle ransomware: Zero Trust

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • How Much Of The Sun’s Radiation Is At Wavelengths We Can See?
  • Alcohol And Dementia Risk: There Is No Safe Level Of Drinking
  • Interstellar Object 3I/ATLAS May Have Been Caught In Perseverance Rover Photo
  • Friendly Falkland Islands “Wolf” Was Actually The Last Stronghold Of A Fox Domesticated In South America
  • Wolf-Dog Hybrid Found In Greece For First Time, Marking A New Twist In Wolves’ Return To Europe
  • Nobel Prize-Winning Physicist George Smoot, Who Made The First “Baby Pictures” Of The Universe, Dies Aged 80
  • The Most Powerful Odd Radio Circle’s Intersecting Rings Are Giving Us The Finger
  • Over $1 Million Of Shipwrecked Gold and Silver Coins Recovered From Florida’s Coast
  • Astronaut Don Pettit Shares Image Of The “Belt Of Venus” From The International Space Station
  • Deathwatch Beetles: Bad Omens In The Night? Nope, They’re Just Horny
  • Why Do So Many Nobel Laureates Develop “Nobel Disease”?
  • Does The Moon Affect The Menstrual Cycle? Yes, New Study Claims
  • The Second Closest Asteroid Flyby Of Earth Ever Recorded Just Whizzed Over Antarctica
  • New Theory Reveals Shackleton’s Legendary Ship “Endurance” Was Doomed To Sink In 1915
  • Revolutionary Discovery In Immune System Regulation Leads To Nobel Prize In Medicine Win
  • These May Be The First Animals To Evolve On Planet Earth, Skin Cells Have Been Used To Create Fertilizable Eggs, And Much More This Week
  • The Largest Eagle To Ever Live Had A 3-Meter Wingspan And Ate Moa For Lunch
  • “Tangy And Herbaceous” Yogurt Made With Forest Ants – And They’re Not For Extra Protein
  • This Bizarre Jurassic Reptile Is A Weird Mix Of Snake And Lizard
  • Mummified Cheetahs, Skin Cells Turn Into Eggs, And Almost Life On Enceladus
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version