TEXAS

Samsung To Austin: 100-Percent Tax Abatement On New Plant Or We Walk

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Samsung Semiconductor wants the city of Austin to give it massive tax abatement in exchange for building its new chipmaking plant there.

Samsung wants a 100-percent property tax reimbursement for the 17-billion-dollar facility for at least 20 years. The six-million-square-foot plant would create nearly two-thousand jobs, most of which would pay six-figures.

The plant would be one of the largest-ever economic investments in Texas, and the biggest in the Austin area, outshining both the Tesla Gigafactory and the Apple campus.

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