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Samsung seeks $1 billion in tax breaks to build new $17 billion chip plant in Austin
The facility would create 1,800 new jobs with an initial average annual wage of $66,254.
Samsung s existing facility in Austin.
By Tribune News Service
Samsung is seeking a taxpayer-subsidized incentives package worth more than $1 billion to choose Austin for its next big facility a 7 million square-feet next-generation chip fabrication plant that would be valued at more than $17 billion and create 1,800 jobs, according to documents filed with the state.
Documents made public by the Texas Comptroller’s office on Thursday show that Samsung is seeking tax abatements from Travis County, the city of Austin and the Manor school district. Samsung is also seeking an incentive deal from the state’s Texas Enterprise Fund, according to the documents.
Samsung is seeking a taxpayer-subsidized incentives package worth more than $1 billion to choose Austin for its next big facility – a 7-million-square-foot next-generation chip fabrication plant that would be valued at more than $17 billion and create 1,800 jobs, according to documents filed with the state.
The documents made public by the Texas comptroller s office Thursday show that Samsung is seeking tax abatements from Travis County, the city of Austin and the Manor school district. Samsung is also seeking an incentive deal from the state s Texas Enterprise Fund, according to the documents.
The company wants a 100% tax abatement over 20 years from Travis County, which would be worth $718.3 million. Travis County spokesman Hector Nieto said the county has not received a formal application from Samsung. He declined to comment further.