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Samsung Planning $17 Billion Chip-Making Plant in US
The South Korean company is considering Austin, Texas as a possible location. By Reuters | Updated: 6 February 2021 13:53 IST
The tech giant is seeking combined tax abatements of $805.5 million over 20 years
Highlights
The plant will become operational in the third quarter of 2023
Samsung is looking at alternative sites in Arizona and New York
Samsung Electronics 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 considers Austin for $17 bln chip plant, eyes tax breaks of at least $806 mln
Updated:
Updated:
February 06, 2021 13:29 IST
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.
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Samsung considers Austin for $17 bln chip plant, eyes tax breaks of at least $806 mln.
| Photo Credit: Reuters
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.
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.