Hyun Ju Han

Global Economic News

THE Taylor city council in Williamson County, Texas, which is considered as the most likely candidate for Samsung Electronics’ new semiconductor foundry in the United States, has decided to give tax incentives such as property tax refund to the South Korean firm.

Williamson County and Taylor city council held a joint meeting earlier this month and unanimously agreed to provide tax incentives to Samsung if it built the foundry in Taylor. Williamson County has decided to refund property taxes to Samsung for 20 years. It will refund 90 percent of property tax for the first 10 years and 85 percent for the next 10 years.

Previously, Samsung proposed that it will construct a semiconductor factory facility in Williamson County by Jan. 31, 2026, and create 1,800 new regular jobs. The total investment is US$17 billion.

U.S. media predicted that if all goes smoothly, the chip plant will be fully operated at the end of 2025 and 6,500-10,000 jobs will be newly created in the process of construction.

The Austin Business Journal reported that Samsung has not officially confirmed on the factory site, but if the factory is built in Taylor, it will be one of the largest foreign investments in U.S. history.