TAYLOR, Texas - Williamson County and the City of Taylor have unanimously approved Samsung to build a multi-billion dollar plant.
In a joint meeting Wednesday, officials talked about how both the city and county would benefit from having a facility like the Samsung plant.
Earlier this year the tech giant expressed interest in building a $17 billion semiconductor plant in the southwest part of the city along with 1,800 jobs.
"It opens up a world of opportunity for this community, for our existing businesses, for our new businesses in Taylor, for our residents, and for our kids," said Taylor Mayor Brandt Rydell.
During the meeting, the county and city discussed the benefits which include Samsung hiring at least 24 Taylor Independent School District students per year as interns. They must also contribute an average of $300,000 in charitable contributions to the area as well as use local businesses for goods and services.
With the ball now in Samsung’s court, Samsung Austin semiconductor released the following statement:
"No decision has been made by Samsung on a site for a potential expansion. All sites are under consideration and each community is preforming the appropriate due diligence to put themselves in the best position for this opportunity. The actions by Williamson county and city of Taylor are part of their due diligence."
This agreement from the city and county does come with tax incentives for the company.
Williamson County is offering a 90% rebate for the first 10 years and 85% in the second 10 years.
Judge Gravell noted the land currently proposed doesn’t generate a whole lot for the county to begin with due to it being ag exempted.
"We currently receive from that property $1288 a year. With Samsung coming in, even with the rebate granted to them the county would immediately begin to generate 2555 per acre," Judge Gravell says.
From the city, Samsung would receive a 92% tax abatement for the first 10 years.