Samsung Eyes $17B Chip Plant In Taylor, Texas

Taiwan Semiconductor Manufacturing Co Ltd TSM, rival Samsung Electronics Co Ltd SSNLF, aims for a $17 billion chip-making plant in Taylor, Texas, the Wall Street Journal reports.
The Taylor facility, located in central Texas, looks to create 1,800 jobs. However, the facility will not commence chip production before 2024 end.
Taylor had offered incentives that include the equivalent of property-tax breaks of up to 92.5% for the first ten years.
The Taylor factory will serve as an advanced chip-making facility for Samsung’s contract-manufacturing operations.
In October, Tesla Inc TSLA migrated its headquarters to Austin shortly after CEO Elon Musk had moved to the Lone Star State.
Taylor is about 30 miles away from Austin. The planned site of roughly 1,200 acres is much larger than Samsung’s property in Austin.
Price Action: TSM shares traded lower by 0.60% at $124 in the premarket session on the last check Tuesday.