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Samsung’s decision on the location of the new “impending” US chip factory – Texas County Judge




The company logo is displayed during Samsung’s 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 its new US $ 17 billion chip factory looming, the judge for Williamson County in Texas, who is in the running for the new plant, said Thursday.

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

Samsung said it would begin construction on the new 6 million square feet (557,418 square meters) plant in January, with production operational by the end of 2024. The company said no decision has been made. had been taken and that he was also considering Austin, neighboring southern Williamson County, and sites in New York and California. Read more

The plant would mark Samsung’s second chip factory in the United States and comes at a time when the global auto industry is facing a significant semiconductor shortage. Read more

Gravell is the county’s highest elected official and has been in charge of local negotiations with Samsung. He said he was confident Samsung would choose its site, as the company had already started taking drill samples and started surveying, engineering and design work.

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

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

County officials presented Samsung executives with custom printed jerseys at the local baseball stadium in January and finished a vivid video presentation with fireworks, the judge said.

Williamson County Commissioners on Wednesday passed a sweeping incentive package that would reimburse Samsung for 90% of 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 full refund amount is complicated by the unknown future value of the site’s property, Gravell said, but added that the county would still earn more taxes than it currently does on the land.

A separate property tax incentive deal with the town of Taylor would provide Samsung with $ 314 million in tax relief over the next 10 years.

Reporting by Tina Bellon in Austin, Texas; Editing by Sandra Maler

Our Standards: The Thomson Reuters Trust Principles.




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