Samsung Elec seeks tax breaks on potential chip plants in Texas – documents
2022.07.21 17:25
FILE PHOTO: The logo of Samsung Electronics is seen at its office building in Seoul, South Korea, March 23, 2018. REUTERS/Kim Hong-Ji
SEOUL (Reuters) – Samsung Electronics (OTC:SSNLF) has begun applications for tax breaks for a total of 11 potential chip manufacturing facilities in Texas, according to documents filed with Texas authorities and a statement by Governor Greg Abbott.
Samsung (KS:005930)’s applications, filed with school districts in Texas where Samsung has an existing chip plant or is in the process of building a new plant, are part of the state’s Chapter 313 incentives programme.
Chapter 313, which provides property tax breaks, are currently set to expire by end-2022, the Texas Comptroller website showed – meaning companies that want to lock in tax breaks under the programme will need to apply before the year’s end, no matter how initial its plans.
“We currently do not have specific plans to build at this time. However, the Chapter 313 applications to the State of Texas are part of a long-term planning process of Samsung to evaluate the viability of potentially building additional fabrication plants in the United States,” Samsung said in a statement.
Samsung last year picked Taylor, Texas as the location for a new $17 billion plant to make advanced chips, expected to create 2,000 high-tech jobs and production seen starting in the second half of 2024.
