9/6/2021, 9:10 AM (Source: TeleTrader)
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Samsung receives tax break offer from Texas city

Texas' city of Taylor offered Samsung major tax breaks on the property if the South Korean tech giant decides to build the $17 billion chip plant in that part of the United States.

The investment, expected to create up to 1,800 new jobs, will likely go either to Taylor or to the neighboring city of Austin. However, Samsung noted it is also considering sites for its plant in the federal states of New York and Arizona.

Samsung will receive the property tax break of around 90% if it decides for the Taylor site, with the production then being expected to start by the end of 2024.

Baha Breaking News (BBN) / ND