TAYLOR, Texas (Talk1370.com) -- Officials from Williamson County and the City of Taylor are ratcheting up their efforts to lure a $17 billion Samsung semiconductor plant to a site just southwest of downtown Taylor.
County and city officials held a joint meeting Wednesday afternoon at the Taylor ISD Events Center to discuss and approve incentive agreements for the project.
According to documents provided by Williamson County, the company is considering a nearly 1,200 acre site surrounded by State Highway 79, County Road 1660, Country Road 3349, and Farm to Market Road 973.
Williamson County Judge Bill Gravell highlighted the need for Samsung to build the facility in the United States, calling it a matter of "national security" in an effort to decrease dependence on foreign nations.
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“If Williamson County is selected, this will be the largest economic development project ever in the State of Texas and the largest economic development project with foreign investment in the United States,” said Gravell. “I want to thank Senator Cornyn and Governor Abbott for their assistance in helping us with our proposal to bring Samsung home to Taylor.”
Samsung officials say no final decision has been made on any of the sites. "All sites are under consideration and each community is performing the appropriate due diligence to put themselves in the best position for this opportunity," a statement said. "Today’s actions by Williamson County and the City of Taylor are part of their due diligence. We are honored to have such thoughtful consideration from all of the sites."
The plant is expected to create at least 1,800 jobs, with plans for six million square feet of facilities. According to county estimates, the potential Samsung development is expected to reach an assessed value of $4 billion. Construction of the facility is also expected to provide somewhere between 6,500 and 10,000 jobs.
The company hopes to have the facility fully operational by the end of 2025 with some operations beginning as early as late 2024.
Documents filed by Samsung with the Texas Comptroller's office indicate Taylor ISD would provide $314 million in tax breaks over the next 10 years under a Chapter 313 agreement.
If the company meets the requirements of the Chapter 381 agreement with Williamson County, the county will grant Samsung an amount equal to 90% of ad valorem taxes paid by the company for the first ten years of the agreement. Under the second 10 years of the term, the County will grant an amount equal to 85% of ad valorem taxes paid by the company.
The company is also considering a site near its existing facility in Austin, including potential incentive agreements with Travis County, the City of Austin, and the Manor school district. Negotiations are said to be ongoing between the parties.
Samsung has also reportedly considered additional sites in Phoenix and upstate New York.
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