AUSTIN (KXAN) — For the second week in a row, Travis County Commissioners discussed a possible agreement with Samsung that would give tax incentives to the tech company should it build a $17 billion manufacturing plant in Travis County.
There are several locations Samsung has identified as a potential home for the massive plant, one in Travis County, two in Texas.
“We are in the initial stages of this,” Christy Moffett, Managing Director of Economic and Strategic Planning for Travis County, said Tuesday. “The public won’t necessarily hear a whole lot of the negotiations that are going on because they are protected.”
Though much of the conversations are still private, Moffett said Tuesday that they’re working on determining the economic impact of the plant, identifying stakeholders and crafting a timeline for when the public will be given more details.
The economic development performance agreement will be posted publicly when it’s ready, Moffatt said. Seven days after it’s posted, a hearing will be held so the public can provide their first round of comments.
“It’s our job to take that policy, create a timeline that is understandable and we will be working on that as details evolve,” Moffatt said.
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.
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.