July 25, 2022 11:55
Samsung has outlined a plan to invest a total of W250 trillion in 11 microchip factories in Texas over the next 20 years in filings for tax breaks submitted to the state government in May (US$1=W1,313).
Samsung will invest US$167.6 billion to build nine plants in Taylor, Texas over the next 20 years and another $24.5 billion to build two plants in Austin, U.S. media said last Thursday.
Samsung already operates two chip plants in Austin and is building a foundry in Taylor for $17 billion.
"We've submitted filings on all our plans for potential investments to secure tax breaks before Texas' incentive policy comes to an end," Samsung said. "But we don't have any detailed plans yet."
Texas' incentive program offers manufacturing and energy companies a 10-year discount on their property tax bills in exchange for building or expanding their facilities and creating new jobs. With the program set to expire at the end of this year, a number of companies such as Samsung, NXP and Infineon have applied.
The submission does not bind Samsung to the plans, but it could miss out on tax breaks unless it filed them now.
- Copyright © Chosunilbo & Chosun.com