TAYLOR, Texas (KXAN) — Samsung Electronics Co. is set to announce plans to build a $17B chipmaking plant in Taylor, the Wall Street Journal reported Monday.
Samsung previously indicated in its application filings that it wanted to start construction in January 2022.
Taylor and Williamson County leaders voted unanimously in September to approve multiple agreements with Samsung, allowing them to provide incentives to the company like property tax abatements.
Samsung is scoping out a nearly 1,200 acre area southwest of downtown Taylor for its new plant, which could be up to 6 million square feet, according to Williamson County.
Last week, Taylor Independent School District trustees approved a Chapter 313 agreement with Samsung, which gives the company a break on property taxes, according to the Austin Business Journal.
ABJ reported the plant could create 1,800 jobs.
An attorney who worked on Taylor ISD’s agreement told KXAN the deal would save Samsung about $292 million in gross taxes over 15 years. After additional payments to the school district, that total in savings comes down to about $246 million, he says.
The Taylor ISD agreement would also require Samsung to provide internships to at least 24 Taylor ISD students per year.
This story will be updated as more information becomes available.