TAYLOR, Texas (Austin Business Journal) — The massive plot of land in Taylor that is set to become Samsung Electronics Co. Ltd.’s $17 billion chipmaking plant is now officially inside city limits, potentially adding more than $50 million to the city’s general fund over the next three decades.

The city of Taylor in mid-January annexed 1,268 acres that will be home to the Samsung computer chip plant. Municipal officials have estimated that it will add $52 million to the city's general fund over a 30-year period, despite incentives in the form of property tax abatements. (Screenshot of City of Taylor Documents via ABJ)
The city of Taylor in mid-January annexed 1,268 acres that will be home to the Samsung computer chip plant. Municipal officials have estimated it will add $52 million to the city’s general fund over a 30-year period, despite incentives in the form of property tax abatements. (Screenshot of City of Taylor Documents via ABJ)

During a pair of Jan. 13 meetings, Taylor City Council unanimously approved the annexation and established the base zoning for the 1,268-acre plot near the former intersection of County Roads 401 and 404.

The move marks the latest step in South Korea-based Samsung’s construction of the plant, which is the largest foreign development in Texas on record. The company announced late last year it will build a 6-million-square-foot factory west of Taylor High School, where the company plans to produce its most advanced computer chips.

Read the full story in the Austin Business Journal.