Samsung Considers Second Foundry Site in Williams County, Texas, USA

"The Local Government is Considering Granting Tax Benefits to Samsung"

[Image source=Yonhap News]

[Asia Economy Reporter Hyunwoo Lee] Major foreign media reported that Samsung Electronics is considering establishing its second semiconductor foundry plant in Williamson County, Texas, USA. It is known that the local authorities are considering granting tax benefits to Samsung Electronics.

According to major foreign media on the 16th, Samsung Electronics has reportedly submitted documents applying for tax benefits to the Williamson County authorities in Texas. Williamson County is located not far from Austin, Texas, where Samsung Electronics has built and operates its first foundry plant in the United States.

Major foreign media reported that the Taylor Independent School District located in Williamson County is reviewing a tax benefit plan that would limit the taxable value to about $80 million (approximately 90 billion KRW) for 10 years if Samsung Electronics' plant is established. The plant is estimated to have a market value of $4.35 billion (about 5 trillion KRW) as of 2029, so significant tax benefits are expected, according to major foreign media.

Samsung Electronics is reportedly planning to invest about $17 billion in this second foundry plant in the United States. The expected new employment is as high as 1,800 people, and states such as New York and Arizona are reportedly competing to attract the investment. Samsung Electronics plans to start construction in the first quarter of next year and begin production by the end of 2024.

However, major foreign media added that Samsung Electronics repeatedly stated in the documents that it is also looking for alternative sites not only in the United States, such as Arizona and New York, but also in Korea.

This content was produced with the assistance of AI translation services.