According to rumors, the Taylor City Council in Williamson County, Texas, a potential site for Samsung Electronics’ new semiconductor foundry in the United States, has decided to offer tax benefits, such as rebates on property taxes.
Therefore, Samsung Electronics is expected to accelerate its investment decision.
The Williamson County, Texas and Taylor City Council held a joint meeting on the 8th (local time) and unanimously agreed to provide tax incentives to Samsung Electronics. Samsung Electronics will receive a 20-year property tax rebate from Williamson County.
Samsung Electronics had previously proposed the construction of a 555,418-square-kilometer (6 million-square-foot) semiconductor plant in Williamson County by January 31, 2026, and the creation of 1,800 full-time jobs. Total investment is $17 billion.
The semiconductor chip plant is expected to be fully operational by the end of 2025, and 65 to 10,000 jobs will be created during construction, according to local foreign media.
The Austin Business Journal (ABJ) reported that Samsung has not yet chosen the plant site, but if the plant is built in Taylor, it will be one of the largest foreign investments in U.S. history.
The company is currently considering about 5 square kilometers (1,200 acres) of land south of downtown Taylor as a possible location for the plant.
Taylor is an hour’s drive (60 kilometers) from the Austin plant, which has been Samsung Electronics’ only foundry production site in the United States since 1997, or for more than 20 years. Taylor is known to use Austin’s existing infrastructure, so it was not affected by the power outages and blackouts earlier this year.
According to a an official, the company is looking at several regions, including Taylor, and has not yet decided on the investment region.
Samsung Electronics Co., Ltd. (September 9th, local time) is trading on the Korean Stock Exchange at 75,300, down -1.31% from previous close.