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Construction of the 6 million square meter facility is slated to begin in January 2022; production is slated to “go into operation” by the end of 2024.
TAYLOR, Texas – Williamson County Commissioners Court on Wednesday voted to approve a development plan for Samsung’s new semiconductor facility in Taylor, Texas.
The court and Taylor City both voted 4-0 to approve the new tax incentive plan. In particular, the Williamson County Commissioners Court approved a Chapter 381 performance-based arrangement.
The agreement states that Samsung must build at least 6 million square feet of facilities by January 31, 2026, meet progressive construction deadlines, and create 1,800 full-time positions. Upon completion, Williamson County will grant Samsung a payment equal to 90% of the value taxes it paid for the first 10 years of the agreement and 85% for the second 10 years.
Chapter 381 agreements provide an incentive for companies to “stimulate, promote and develop business and trade activities in a county,” according to a press release.
“This agreement is a win for Williamson County because it is performance based. Williamson County will collect all taxes on the company’s estimated value initially and will not return funds until performance standards are met, ”District 4 commissioner Russ Boles said in a statement. “This allows us to be competitive in recruiting large companies like Samsung while holding them accountable for the jobs and improvements they will bring on their promises.”
Despite both Taylor and Williamson County’s officials spearheading the development, Samsung has continued to deny choosing the city for its new $ 17 billion facility, which Austin was also being considered.
Ed Latson, who heads Austin Regional Manufacturing Assn, is now in favor of Samsung joining Taylor. In an interview with him yesterday, he added that Hutto-Taylor was ripe for a big move. If Samsung doesn’t choose Taylor, someone else will. pic.twitter.com/wDdfghrl0U
– Mike Marut (@MikeMarutKVUE) September 8, 2021
“Samsung has not made a decision on a website for a possible expansion,” Samsung said in a statement to KVUE on Sept. 6, heading for the opportunity. Williamson County’s and City of Taylor’s actions are part of their due diligence. We are honored to be examined so carefully from all locations. “
In July, Samsung also filed for an incentive deal with Taylor ISD that would provide the company with a $ 314 million tax break over the next 10 years.
“I voted in favor of this agreement because it opens up new opportunities for students in Taylor schools,” District Judge Bill Gravell said in a statement. “In addition to the estimated tax revenue of over $ 245 million that the school district will collect, our agreement calls for Samsung to hire 24 interns. This opens up opportunities for them with an international company that would otherwise not have been possible in Taylor. “
Students also spoke at the joint council and commissioners’ meeting on Wednesday evening, highlighting Samsung’s desire to put new roots in Taylor.
“One of the concerns that has bothered me and my colleagues is what happens after graduation,” said Samantha McIntire, this year’s student president at Taylor High School. “We just have to take it to Taylor and see how it develops and only have the chance to actually encourage such a development.”
When this is complete, construction of the facility is slated to begin in January 2022, with production slated to “start operating” by the end of 2024. The agreement also includes road improvements that are “necessary for safety and mobility around construction”.
“If Williamson County is selected, it will be the largest ever economic development project in the state of Texas and the largest foreign-invested economic development project in the United States,” Gravell said. “I would like to thank Sen. Cornyn and Governor Abbott for their support in our proposal to bring Samsung home to Taylor.”
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