Samsung reportedly decides to build $17 billion semiconductor facility in Taylor, Texas.
Published reports today indicate that Samsung Electronics Co. has decided to build a $17 billion semiconductor plant in Taylor, Texas, ending speculation that South Korea’s largest company would be locating the facility in New York State and, possibly, at the Western New York Science & Technology Advanced Manufacturing Park in the town of Alabama.
A story from Bloomberg Wire stated the chip-making plant will be constructed in the Central Texas city, which is about 30 miles from Samsung’s giant manufacturing hub in Austin.
A news conference led by Texas Gov. Greg Abbott reportedly is scheduled for 5 this afternoon.
Sources close to the project said the plant would create about 1,800 jobs and chip production is expected to start at the end of 2024.
As late as September, U.S. Sen. Charles Schumer – during an appearance at STAMP to promote Plug Power’s decision to build a green hydrogen facility there – said that Samsung officials toured the 1,250-acre site owned by the Genesee County Economic Development Center and that he was communicating “on a regular basis” with the company’s president.
A resolution posted on the Taylor, Texas, website reveals that the city is offering Samsung more than $300 million in tax credits for the first 10 years – and additional incentives for two subsequent 10-year periods, plus a tax waiver of 92.5 percent on all new property built on the site for the first 10 years.
Another feather in the cap of NYS. Thank you to the Democratic blue state.
Can you imagine what almost 2,000 jobs would have done for the local economy? As long as the people who are elected on the state level to represent our interests, we'll always be the bridesmaids and given the customary, but fake show of interest of doing business in one of the worst business friendly states in the US. Nothing will change until Albany changes. Hochul is an extension of Cuomo with the exception of being a predator . NY needs a major shakeup - this is what happens when the Democratic Party controls the offices of governor, secretary of state, attorney general, and both chambers of the state legislature.
I would love to hear the detailed explanation why Samsung decided against building in WNY STAMP... I'm sure NYS' uber progressive liberal government had nothing to do with it... Hmmmmmm...
1800 jobs ? lol Putting that factory in a farmers field in Alabama is like erecting a skyscraper in Batavia... Take the tax credit, tax incentives, tax waiver money and all the other money give aways , then divide that by 1800 . That's how we "Create" jobs in NY.