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


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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