The logo of Samsung Electronics is seen at its office building in Seoul, South Korea, on March 23, 2018. (Kim Hong-Ji/Reuters)
SEOUL–Samsung Electronics has begun applications for tax breaks for 11 potential chip plants in Texas adding up to investments of about $192 billion, according to documents filed with Texas authorities.
Samsung’s applications were filed ahead of the December expiry the state’s Chapter 313 property tax incentives program. South Korean tech company, Samsung Electronics Corporation already owns a Texas chip plant and is currently building another.
The documents gave the first public estimate of the potential value of the proposed new investments, showing the plants would cost $12 billion-$23 billion each and create 900 jobs or more.
” At this moment, we do not plan to build any specific structures. However, the Chapter 313 applications to the State of Texas are part of a long-term planning process of Samsung to evaluate the viability of potentially building additional fabrication plants in the United States,” Samsung said in a statement.
Samsung last year picked Taylor, Texas as the location for a new $17 billion plant to make advanced chips, expected to create 2,000 high-tech jobs and production seen starting in the second half of 2024.
By Joyce Lee and Heekyong Yang