Samsung chose a $17 billion chip making plant in taxes

by Ijlala Maqbool
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An announcement came as early as Tuesday, and people are familiar with the issue, as said. Gov. Greg Abbott is scheduled to make an “economic announcement” Tuesday at 5 p.m. local time. Tylor facility will create around 1800jobs, located in Texas, though chip production isn’t expected to start until the end of 2024. in the documentation, Samsung 005930, +0.53% is already filed with the texas authority. To woo Samsung, Taylor offered incentives that included the equivalent of property-tax breaks of up to 92.5% for the first 10 years, with the write-offs gradually declining over the next several decades.
“A final decision has not yet been made regarding the location,” a Samsung spokeswoman said.
Samsung’s doubling down on Texas, where it already has a footprint, comes amid a year of historical spending for the semiconductor industry, spurred by government incentives seeking to attract local production. A global chip shortage has undercut many industries, from smartphones and home appliances to cars.


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