SEOUL, Nov. 16 (Yonhap) – Samsung Electronics Co. is expected to determine the location for its new chip manufacturing plant in the United States soon.
—
According to the Texas Financial Comptroller website, Samsung withdrew the tax incentive request it filed in January with the Manor Independent School District (ISD) in Travis County, Texas regarding its new plant. chip manufacturing.
—
The school districts in this state are an important part in the negotiations for the construction of a new factory.
—
The same type of document filed in July with the town of Taylor, northeast of Austin, Texas, can still be found at the site.
—
The two Texas sites are competing to host the new plant for the global chip maker, which is estimated to be worth $ 17 billion. The South Korean company hasn’t ruled out other potential sites in New York and Arizona.
—
Samsung Electronics, the world’s largest maker of memory chips and mobile phones, was planning to build a new factory near the one in Austin, which opened in 1996.
—
A major power outage caused by a cold snap and snowstorm in the region in February, however, caused millions of dollars in losses for the company and raised concerns about the stability of the electricity supply. .
—
The town of Taylor, Texas, which has a population of about 18,000, is currently considered the favorite in the race for the new plant.
—
It offered the tech giant a series of incentives, including tax breaks, for the project which is expected to create around 1,800 jobs and other opportunities.
—
According to a resolution passed by Taylor’s city council, a 6 million square foot chip factory, when built, will produce the “most advanced” type of semiconductor by the end of 2024. La construction is expected to start in early 2022.
—
The Taylor Independent School District has already approved a series of tax incentives for Samsung. Its directors held a board meeting on the matter on Monday, according to its website. What was discussed at the meeting has not yet been made public.
—
Under the state tax code, businesses can negotiate with school districts to reduce the payment of property taxes for a specified period.
—
Lee Jae-yong, the de facto head of the Samsung group and vice president of Samsung Electronics, is currently on a business trip to the United States to finalize the site selection and discuss other matters with the company’s global partners. .
—
His itinerary includes a visit to Boston to meet with executives at Moderna, the US biotech company that has partnered with Samsung Biologics Co. to make Covid-19 vaccines in South Korea.
—
