Samsung Electronics has filed for tax breaks considering building a $ 17 billion chip factory not in Austin, where the South Korean manufacturer already has a similar facility, but elsewhere in Texas.
A document released yesterday said Samsung is considering locating a contract chip factory, which will create 1,800 new jobs, in Williamson County.
Local authorities will have to consider the issue of tax incentives. According to the document, the county is considering caping the taxable value of Samsung’s proposed property at $ 80 million for 10 years, instead of a market value of $ 4.35 billion as of 2029.
The company also confirmed that it is considering alternative sites in the United States of America, including Arizona and New York, as well as in South Korea. Samsung plans to start construction by the first quarter of next year, and start production by the end of 2024.