OCC s World Class program accommodates international students | Features coastreportonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from coastreportonline.com Daily Mail and Mail on Sunday newspapers.
Commentary: Subsidizing companies is problematic for city growth
Nathan Jensen, For the Express-News
Feb. 22, 2021
FacebookTwitterEmail
1of2
If the city of Austin and Travis County consider grant Samsung taxpayer incentives, they’ll be violating the very spirit of the hard reforms they’ve made to limit cash handouts to large corporations.Ralph Barrera /Associated PressShow MoreShow Less
2of2
State programs such as the Texas Enterprise Fund have been willing to bend the rules for major companies. And many cities across the state don’t even list the incentives they have given to companies.Jay Janner /Austin American-StatesmanShow MoreShow Less
Already a major presence in the Austin area, Samsung has invested billions and received millions of economic development incentives through grants and tax abatements. The company is now reportedly seeking another $1 billion in taxpayer-backed incentives for its potential new $17 billion investment in Austin to build a factory that
Texas lawmakers likely to extend costly, controversial tax break
FacebookTwitterEmail
The 110-megawatt, Alamo 6 solar farm in Iraan in West Texas was completed in 2015 to provide renewable power to the city of San Antonio. The solar farm’s developers received a 313 tax limitation, which reduced the tax bill on the project by roughly $2 million annually./OCI Solar Power
A controversial Texas tax law criticized as a giveaway to large companies is set to expire after 2022, but state lawmakers appear poised to renew the program this legislative session.
Under Chapter 313, Texas taxpayers will pay the bill for tax breaks worth nearly $1.7 billion in 2021 and 2022 combined to corporations that relocate to, or expand in, the state companies that, critics say, likely would have done so without the subsidy.
Oracle lured to Texas by lower payrolls, labor pool
Nico Grant, Bloomberg
FacebookTwitterEmail
Oracle Corp. headquarters in Redwood City, Calif.Bloomberg photo by David Paul Morris
Oracle Corp. s surprise decision to shift its headquarters to Texas from California marks a strategic realignment for the Silicon Valley stalwart that s likely to yield long-term financial benefits like lower payroll costs and the potential to more easily recruit future employees.
The world s second-largest software maker said last week that it would no longer designate its longtime base in Redwood City as its main office, ending an era for a company that helped define the technology industry through the 1980s and 90s. The embrace of Texas seems designed to curtail costs over time, in contrast to the San Francisco Bay area, which has grown increasingly expensive for corporate payrolls and individuals.