If Samsung’s $17B plant comes to Texas — when?

Business

Flags of the Samsung company wave in front of a fairground entrance of the IFA 2019 tech fair in Berlin, Germany, Wednesday, Sept. 4, 2019. The IFA takes place in Berlin from Sept. 6 until Sept. 11, 2019. (AP Photo/Michael Sohn)

AUSTIN (KXAN) — Travis County Commissioners are continuing discussions involving a Samsung manufacturing plant that’s expected to cost more than $17 billion that may land in Texas.

Much of the Tuesday discussion was behind virtual closed doors — but an agenda item showed Court members were briefed on an application Samsung Austin Semiconductor, LLC, had filed for an incentives agreement.

Though the details of the agreement were not released, commissioners pushed Christy Moffett, managing director of economic and strategic planning, to release a timeline for when the public might get those details.

“That’s hard to say at this point in time,” Moffett said. “I know that they have an interest in having an agreement ready in August. It all depends on how negotiations go.”

When pushed further, Moffett admitted it would be difficult to meet both Samsung’s timeline for movement in mid-August, and also meet the requirements set by commissioners to foster transparency.

Back in December, commissioners agreed to several stipulations that would provide more transparency in the deal-making process — not just with Samsung, but in any economic development agreement like this one.

Those stipulations included having the agreement posted at least seven days prior to a public hearing. It’ll be the first time the public will have access to the exact agreement. There will be two public hearings total.

What we know so far

Documents with the Texas comptroller show the company filed an application for Chapter 313 property tax breaks from the Manor Independent School District in January.

In its application, Samsung indicated the manufacturing plant would be a $17 billion project — and it hopes to receive tax breaks from Travis County for 20 years.

Map of Samsung's campus

One stipulation the Court has already made, according to documents, is that at least 25% of the workforce for the plant needs to be hired locally. The company estimates they’ll create roughly 1,800 new jobs. That shakes out to 450 jobs for residents of Travis County and five of its surrounding counties.

The massive tech company is scouting other destinations for the facility, too — which will produce the company’s most advanced computer chips yet. Taylor, Texas, is on the list, in addition to Phoenix and upstate New York, according to the Austin Business Journal.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Austin-Travis County

More Austin-Travis County News

Tracking the Coronavirus

Coronavirus Cases Tracker

Latest Central Texas COVID-19 Cases

More Coronavirus Live Blogs

Trending Stories

Don't Miss