City of Taylor approves to offer 92.5% tax rebate to Samsung Elec

The City of Taylor in Texas has endorsed an incentive to refund 92.5 percent of the property tax Samsung Electronics will have to pay for 10 years if the world’s largest chip maker chooses the city as a site for its new foundry plant. The city and Williamson county on Wednesday (local time) unanimously voted in favor of a plan to offer a 92.5 percent tax rebate for the first 10 years, 90 percent in the second 10 years and 85 percent in the third 10 years if Samsung builds the chip plant in the city by January 2026 and provides 1,800 regular jobs. Earlier this year, Samsung said it would spend $17 billion to add a new foundry facility in the United States. If the chip maker picks Taylor, it would be able to break ground in January 2022 and begin full operation at the end of 2024. Samsung said “all sites are under consideration” and “no decision has been made” on a site for the expansion.

[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]