Samsung decision on new location of US chip plant ‘imminent’ – Texas county judge

The company logo is displayed at the Samsung press conference at the Consumer Electronics Show (CES) in Las Vegas on January 7, 2013. REUTERS / Rick Wilking / File Photo

AUSTIN, Sept. 9 (Reuters) – A decision by Samsung Electronics (005930.KS) on the location of the new US $ 17 billion chip plant was imminent, Williamson County Judge in Texas which is in progress of the new factory. he said Thursday.

“The decision is imminent. My experience with Samsung is that they move with agility and speed,” County Judge Bill Gravell said in an interview with Reuters.

Samsung has said it would begin construction on the new 6 million-square-foot (557,418-square-meter) plant in January, with production up and running by the end of 2024. The company has said no decision has been made and that it is also ‘was considering the southern neighbor of Williamson County, Austin, and the places of New York and California. Read more

The factory would mark the second U.S. chip factory in Samsung and comes at a time when the global auto industry is facing a major shortage of semiconductors. Read more

Gravell is the top elected official in the county and has been in charge of local negotiations with Samsung. He said he was confident Samsung would choose its location, as the company had already begun taking drilling samples and had begun prospecting, engineering and land design work.

“At heart I would like to think we have the project,” Gravell said.

The county, which is home to the headquarters of Dell Technologies Inc. (DELL.N) and a future campus of Apple Inc. (AAPL.O), has worked hard to attract Samsung executives over the past eight months. , said Gravell.

In January, county officials presented Samsung executives with custom-printed T-shirts at the local baseball stadium and finished a video presentation with fireworks, the judge said.

Williamson County Commissioners on Wednesday approved a comprehensive incentive package that would lower Samsung’s 90% property taxes for the first 10 years and 85% for the next 10 years if the company meets certain construction deadlines and creates 1,800 full-time jobs.

Assessing the total amount of the bonus is complicated by the unknown value of the future property of the site, Gravell said, but added that the county would still earn more taxes than the current ones on the land.

A separate property tax incentive agreement with the City of Taylor would provide Samsung with $ 314 million in tax credits over the next ten years.

Reports from Tina Bellon to Austin, Texas; Edited by Sandra Maler

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Credit – https://www.reuters.com/technology/samsung-decision-new-us-chip-plant-location-imminent-texas-county-judge-2021-09-10/