Samsung is getting a sweet deal out of the decision.
The City of Taylor and Williamson County approved millions of dollars in tax incentives, and Taylor ISD approved millions of more incentives this month.
At a Sept. 8 meeting, Williamson County commissioners approved a Chapter 381 performance-based agreement with Samsung that will grant the company 90% of ad valorem taxes paid by Samsung for the first 10 years of the agreement. For the next 10 years after that, the county agreed to grant an amount equal to 85% of ad valorem taxes paid by Samsung.
The county's agreement with Samsung is contingent on Samsung constructing at least six million square feet of facilities by Jan. 31, 2026, and the creation of 1,800 full-time jobs. Williamson County is also agreeing to make improvements to specific roads around the facility, including CR 401 and CR 404. Additional roads will also be constructed in the area.
At a meeting on Oct. 14, the City of Taylor approved a Chapter 380 Economic Development Incentive Agreement. The city agreed to contribute up to 93.5% annually of the property taxes.
In July, Samsung had also filed for an incentives deal with Taylor ISD, which would provide the company with a $314 million tax break over the next 10 years.
Samsung isn't the only company getting a tax break in Central Texas
A lot of manufacturing companies have moved to Central Texas or expanded operations recently. Manufacturing makes up 13% of the state's economic output.
And Samsung wouldn't be the first big tech company to get huge tax breaks to build in Central Texas. Earlier this year, the KVUE Defenders dug into the tax incentives local governments have offered companies.
Austin has nine active incentive agreements worth more than $112 million. Travis County has eight active incentive agreements.
Samsung has deals with both Austin and Travis County for its existing facility. Some of those agreements come with terms that companies must create a certain number of jobs or set their minimum wages at a certain level.
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