JOURNEY TO A DEAL Over the last year, Travis and Williamson counties have vied for a new $17 billion Samsung facility.
• Community Impact Newspaper conrms that Samsung had been in talks with the city of Austin under the name Project Silicon Silver to bring a semiconductor plant to the area, requesting a 100% property tax reimbursement for the factory. • Travis County votes to accept an application for economic incentives from Project Silicon Silver. • Williamson County leaders host Samsung executives at Dell Diamond in Round Rock, beginning discussions about the viability of bringing the project to the county north of Austin.
Samsung’s current Travis County location is at Parmer Lane and Samsung Boulevard. (Community Impact sta)
Travis County and Samsung continuing talks Travis County is still in negotiations with Samsung for the construction of a $17 billion semiconductor facility. economic development incentives policy. “This is kind of the rst ‘here are things we’d like to see in an agreement,’” Nieto told Community Impact Newspaper in early October. “We’re at the level of, ‘Here are the things we’d like to see, and tell us if this is something you’re amenable to so that way we can put up a rst draft.’” BY OLIVIA ALDRIDGE
• Travis County, Williamson County, the city of Taylor and Taylor ISD receive applications for performance-based tax incentives agreements from Samsung. • TISD votes to accept an application June 30 under the name Project Colin, revealed in July to be Samsung.
Despite progress in early October that appeared to indicate Samsung was moving toward a deal with Williamson County and the city of Taylor, Travis County has conrmed it is still in the running for the possible development. On Oct. 5, Travis County commissioners voted to present Samsung with a preliminary term sheet for a potential performance-based tax incentives agreement for the project, dubbed Project Silicon Silver in documents posted earlier in 2021. The vote followed a discussion in executive session and was the rst public move by commissioners to progress negotiations with Samsung since July, when the county announced it had received an application for Chapter 28 economic development incentives from the company. This vote was the rst public movement on talks between the county and Samsung since Williamson County and the city of Taylor unanimously approved an economic agreement with Samsung, pending the company’s approval. Hector Nieto, Travis County public information ocer, said the county and Samsung are not yet at the stage of releasing a draft of an agreement, which the county must post publicly seven days prior to the rst of two public hearings, per its own
Already Travis County’s negotiations with the company, which has an existing semiconductor facility in North Austin, have extended beyond the projected timeline sta laid out in July. At the time, Christy Moett, Travis County managing director for economic and strategic planning, said Samsung hoped to nalize a performance agreement by mid- August. As of Nov. 11, the county had yet to publish such a draft of such an agreement, and Samsung remained an item of discussion in executive session at weekly commissioners court meetings. The company’s negotiations with Williamson County, and Taylor have progressed further; ocials agreed at a Sept. 8 joint meeting to approve proposed development incentives for Samsung, setting ad valorem tax rate caps on the valuation of more than 1,200 acres in Taylor. Documents related to Samsung’s negotiations with Williamson County show a proposed 6 million- square-foot facility with 1,800 higher-paying jobs. Williamson County Judge Bill Gravell said that the deal would bring his county an additional $135 million in property taxes over the next 30 years.
• Travis County commissioners vote to begin negotiations with Samsung to draw up a draft agreement.
• The city of Taylor and Williamson County vote Sept. 8 to approve agreement terms with Samsung, oering 92.5% and 90% tax abatements for the project for 10 years followed by more abatements in subsequent years. The city and county await a response from Samsung.
• On Oct. 5, Travis County commissioners vote to submit an initial term sheet to Samsung.
SOURCES: TRAVIS AND WILLIAMSON COUNTIES COMMUNITY IMPACT NEWSPAPER
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