Samsung offered tax rebates for 30 years to build $17bn chip plant in Texas

The city of Taylor, Texas, has offered Samsung property tax breaks over the course of 30 years if the South Korean chip giant agrees to build a $17bn fabrication plant on its land. Samsung is shopping around for plots to expand its chip manufacturing presence on US soil, and is considering spots in Texas, Arizona, and New York …

[elsergiovolador]

Equal and equalest

One set of rules for the pleb, another set for Samsung.

[Dave314159ggggdffsdds]

Re: Equal and equalest

Well, that's what Mein Kampf says, so it must be true...

[Jerry H. Appel]

Abbott and Walker, two of a kind.

Abbott, he of election fraud conspiracies and the heart beat bill, would rather encourage endless tax breaks for business instead of doing anything to protect Texans. He is not protecting the victims of rape and incest. He is not protecting the right to vote unless you are white and wealthy. He is not protecting the state from climate change which is evidenced by all the Texans that died during the latest freeze. Oh, but he is sending his minions to the border to protect the Lone Star from the hordes of asylum seekers that his business buddies will hire in a heartbeat for $1 and hour. Samsung ought to be smarter than this and find a state where water and power are not an issue, and where it's high-tech workers will feel comfortable even if they are not white. Former Gov. Scott Walker did the same stuff in Wisconsin, and now he is just a pundit, but he did manage to build that huge plant by Foxconn, not!

[Anonymous Coward]

Re: Abbott and Walker, two of a kind.

Abbott and friends hate the federal government, with its penchant for legislating and taking control away from the locals (they say). Thus it was interesting that Abbott and friends, to get back at blue-dot Austin for some transgression or another, legislated at the state level, rules about which trees could be cut down, to preempt Austin's own tree-loving tree-hugging rules.

And of course lately mandating wrong-course rules all through the pandemic, killing Texans.

He and they scream loudly about what the feds might do, then do worse. That's conservatism in America today.

[Mike 16]

Re: What the Feds might do

A situation well explained by the title of a Firesign theatre album:

Don't Crush That Dwarf, Hand Me the Pliers

[Mike 16]

Re: Abbott and Walker, two of a kind.

"... protecting the victims of rape and incest"?

He's just taking a slightly different approach by, according to him "eliminating rape in Texas".

This will presumbly be achieved by changing the legal definition of the offense, "de-criminalizing" it, or the usual fudged statistics and victim-blaming.

Has Samsung factored in what they will need to set aside for on-campus private schools and medical facilities?

Already gathered enough downvotes for one comment, so I'll stop short of Mark Twain's opinion on rental property.

[amanfromMars 1]

Is there an option to be paid in real solid gold to add glittering value to Samsung?

When is the grant of a subsidy not a bribe or a bung to oil the currency printing presses, both virtual and physical, and aid the churn of captivating, but quickly declining to zero global worth fiat paper ?

Is that the American dream one trick pony?

[Joe W]

Re: Is there an option to be paid in real solid gold to add glittering value to Samsung?

yes.

(Don't you hate it when people answer rhetoric questions?)

[amanfromMars 1]

Re: Is there an option to be paid in real solid gold to add glittering value to Samsung?

Such Texas-centric practices are not without significant regulatory risk, Joe W, which if deemed worthy of not investigating and pronouncing clear and unambiguous decision upon, risks effectively collapsing a much greater phish and what is no more than a colossal ponzi.

The problem is highlighted in this sentence ........

At issue is whether the payments in question violated the US Foreign Corrupt Practices Act, which strictly prohibits companies from paying bribes to foreign officials to gain business. ..... https://www.rt.com/usa/534200-raytheon-qatar-bribery-investigation/

[benjimouse]

Re: Is there an option to be paid in real solid gold to add glittering value to Samsung?

yes

[amanfromMars 1]

Re: Is there an option to be paid in real solid gold to add glittering value to Samsung?

use ..... benjimouse

Call me a cynic, if you like, but only seeing is believing that affirmation to be honestly true, benjimouse. I look forward to the show in the near future but am not holding my breath in great expectation.

[Anonymous Coward]

So what are all the businesses that compete against Samsung, who haven't received a tax rebate, supposed to do?

[Dave314159ggggdffsdds]

Anyone else who wants to open a large factory there will be offered the same (very minor) tax break.

[Christoph]

I hope lots of people will make it very clear to Samsung that they should not invest in the Wire Coathanger State.

[Pascal Monett]

I knew it

I've been saying since the first El Reg article that massive tax rebates were part of the deal.

Not that it was so difficult to guess.

I checked Taylor out on Google Earth. Not a river in sight for 200km around (the circle ruler is a great tool).

Great place to build a monster chip-making plant that is going to need millions of gallons of water every day.

I actually hope that they do build that plant. It'll be fun hearing about how it's only working at 25% capacity because of drought.

It'll also be fun hearing about the massive layoffs due to inactivity (well, not for those laid off, obviously).

And the best fun will be to hear about how the local council defends their choice in the middle of the disaster that they are bringing upon themselves.

Because whatever happens and however well that plant does run, one thing is certain : in 30 years, Samsung is shutting it down.

And after 30 years, they'll have a gold-plated excuse : it's obsolete and too expensive to upgrade.

[EvilDrSmith]

Re: I knew it

Er, Google Earth shows the San Gabriel River passes about 3km (three) north of the city boundary.

(assuming there is only 1 Taylor city on US79).

Looks like a reasonable substantial water supply.

(Checked because it seemed strange that a city would be built >200km from a river or other water supply, so wondered why the city would exist under such harsh conditions; answer: conditions aren't so harsh)

[IGotOut]

Rember folks...

Foreign Goverment subsides = illegal.

Massive tax breaks for multi billion $ profit companies = Good!

[Anonymous Coward]

Re: Rember folks...

Paying money vs not sending round the goon squad to collect money?

[mark l 2]

Obviously if you are a Samsung shareholder and not a resident living in the Texas this would seem a great deal. But for everyone else its rubbish.