Samsung Closer to Choosing Site in Texas for New Chip Plant
Though it looks like Texas will be the choice, I am kind of surprised to hear that New York is on Samsung’s short list for their new chip plant considering the state’s infamous taxes:
Samsung Electronics Co. appears to be moving closer to making a final decision on the site for its new chip fabrication plant in the United States, as global semiconductor companies have engaged in increasingly fierce competition amid a global chip crunch.
The South Korean tech giant was found to have withdrawn its application filed in January with Manor Independent School District (ISD) in Travis County, Texas, for corporate tax incentives regarding its new chip plant, the Texas comptroller’s website showed.
School districts in the state constitute an important party in the negotiations over building a new plant.
The same kind of document filed in July with the city of Taylor, northeast of Austin, can still be found on the public site.
The two locations in Texas have been competing against each other to host the global chipmaker’s new plant believed to be worth US$17 billion. The South Korean company did not rule out other sites in New York and Arizona for potential sites.
Yonhap
You can read more at the link.
A perfect example of the US extorting foreign companies to operate in the US.
“I am kind of surprised to hear that New York is on Samsung’s short list for their new chip plant considering the state’s infamous taxes”
Remember… its not capitalism… it’s crony capitalism.
Taxes for you and me… but tax holidays for those with big capital.