AUSTIN—On Tuesday, Nov. 23, Gov. Greg Abbott’s major economic announcement was no surprise to the people of Williamson County.
Abbott officially announced that a new $17-billion semiconductor plant will be built in Taylor.
“Companies like Samsung continue to invest in Texas because of our worldclass business climate and exceptional workforce,” Abbott said. “Samsung’s new semiconductor manufacturing facility in Taylor will bring countless opportunities for hardworking central Texans and their families will play a major role in our state’s continued exceptionalism in the semiconductor industry. I look forward to expanding our partnership to keep the Lone Star State a leader in advanced technology and a dynamic powerhouse.”
Samsung plans to invest $17 billion and build a six-million-square-foot semiconductor manufacturing plant in Taylor. The plant is expected to create 2,585 new jobs, with 785 indirect jobs and 1,800 direct employment positions at the facility.
The Taylor City Council and Williamson County Commissioners approved agreements in September for tax abatements and incentives for Samsung to choose Taylor.
The Taylor City Council agreements include tax abatements under a tax increment reinvestment zone for 92.5% in the first 10 years. For the second 10 years, abatements would be 90% and 85% for years 21-30 as long as the conditions of the agreement are met.
“The City of Taylor is honored to have been selected for the Samsung project, which will be the single most significant and consequential development for the local economy since the International & Great Northern Railroad laid tracks here in the 1870s,” said Mayor Brandt Rydell in a press release. “This project will provide unprecedented opportunities for our local business owners, our students, and our city’s future development. We are excited to welcome Samsung and their employees to our community, and we look forward to a long-lasting and mutually-beneficial relationship.”
In addition to the tax incentives, Samsung will agree to make contributions of at least $300,000 a year in civic and charitable donations in the Taylor community, and $150,000 a year to the city for the betterment of the Taylor community.
“Taylor ISD and Taylor, Texas, are honored and proud to be selected as the home for the new Samsung Semiconductor plant in North America,” said Superintendent Devin Padavil. “Our partnership with Samsung will provide us an opportunity to transform the lives of our students through learning opportunities, internships, resources and financial support.”
In the county’s development agreement, Williamson County agrees to specific road improvements that are necessary for safety and mobility around construction and operation of the six-million-square-foot facility. This includes improvements to CR 401 and CR 404, as well as construction of a future county road. The Southeast Loop, which started construction on Segment 1 in July, also is mentioned in the agreement with a completion date of June 2025.
“It is an incredible opportunity and privilege to have a world class company like Samsung in Williamson County,” said County Judge Bill Gravell. “Their commitment to employees, the environment and their local community is inspiring, and we are excited for the possibilities this partnership will bring to Taylor and Williamson County. To our friends at Samsung, I want to say ‘Welcome Home’.”
In support of the project, the Texas Department of Transportation (TxDOT) has pledged $67 million in its 10-year Unified Transportation Program for construction of Segment 3 of the Southeast Loop, which includes a grade-separated railroad crossing at FM 3349 and US 79.
Williamson County approved the Chapter 381 agreement, which offers tax breaks as long as Samsung completes specific goals. The company would build a six-million-square-foot facility and have a certificate of occupancy by Jan. 21, 2026. A certificate of occupancy for a 2.5-millionsquare-foot building has to be completed by December 2023.
Samsung would agree to create 1,800 full time positions, some throughout the progression of building the facility.
From Williamson County, Samsung would receive a 90% rebate of the ad valor-em taxes on the property for the first 10 years. A 10-year extension will be offered for 85% abatement if Samsung complies with the conditions of the agreement.
“I am proud of the Taylor community, Williamson County and the great state of Texas,” said Congressman John Carter, “With Samsung comes an anticipated 2,000 jobs that will bolster TX-31 economy and provide opportunities for innovation right here in the heart of Texas.”
- Log in or Subscribe to post comments.