Reply to post: Let us set a filter here

Samsung seeks to have almost $1bn shaved off property taxes for planned Texas semiconductor fab

Snake Silver badge

Let us set a filter here

So let's sort through a few typical corporate claims made.

Samsung claims "3,000 new jobs!", but history has proven that such claims factor in the construction jobs for building the plant, which are of course only temporary until the project is finished. I do not believe, in today's modern facilities, that 3,000 jobs in a fabrication plant is to be expected as long-term placements; 3,000 fab jobs seems very, very high. The "1,800 would be directly employed by the company" is the telltale, here - employed, doing what, exactly? And at what pay? Low wage cleanup and other such jobs aren't worth your tax abatement bill, buddy.

Out of the proposed $17bn building cost, very very very little, if any in terms of higher-cost things like materials, will go back into the local economy. Unless Austin has a competitive steel building supply industry that Samsung will give the contract to. The materials will come from all over the world, some will come from America; the architects, engineers and machinery can be counted as coming from everywhere except Austin, Texas. Austin will get a several-year boost in construction jobs, a few supply and leasing business will get a nice boost, and certainly delis and food suppliers will get a healthy boost from feeding the construction workers.

Then, it'll all dry up after construction is completed.

'We can look elsewhere (if you don't pay us enough)', which is quite true...thanks to American corporate welfare (but individual welfare is to be reviled!). "Corporate welfare?" you ask, believing that giving a tax break to a company is good for the district? Oh, but who is going to pay for the much, much heavier burden on the water supply system (fab plants ain't no desert operation), water treatment, road maintenance and police oversight, not to mention any and all long and short-term environmental impacts? The current occupants of said district. While the company...gets a [paid by the neighbors] break on all aforementioned costs.

Who needs socialism? America has great corporatism, it's working just fine here.

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