Samsung has submitted paperwork to Texas officials, requesting a billion dollars in tax incentives to make Austin the future home of the company’s $17 billion chip factory, as noted by Bloomberg and reported last month by the Austin American-Statesman. In the documents, which were filed in January, the company says it plans on bringing 1,800 permanent jobs to the factory over the first 10 years, with an average starting salary around $66K.
In return, Samsung is asking for a break on its property taxes: it’s looking for a 100 percent break on its payments to Travis County for 20 years, which the company estimates would save it roughly $718 million, and a 50 percent break on the taxes to the City of Austin for five years, with an estimated…
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Author: Mitchell Clark