Samsung has submitted paperwork to Texas officials, requesting a billion dollars in tax incentives to make Austin the future home of the company's $17 billion chip factory , as noted by Bloomberg and reported last month by the Austin American-Statesman . In the documents , which were filed in January, the company says it plans on bringing 1,800 permanent jobs to the factory over the first 10 years, with an average starting salary around $66K. In return, Samsung is asking for a break on its property taxes : it's looking for a 100 percent break on its payments to Travis County for 20 years, which the company estimates would save it roughly $718 million, and a 50 percent break on the taxes to the City of Austin for five years, with an estimated $87 million. It also wants the state to subsidize its property tax payments to the school district. It seems like Samsung is still trying to decide where to put the factory: in the documents, the company calls the project "highly competitive," and says that "[d]ue to the higher tax cost of operating in Texas, the appraised value limitation is a determining factor. Without the appraised value limitation… Read full this story
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