Taylor, Texas: Samsung nominated for additional state incentives through Texas Enterprise Zone Program
Published: Sat, 09/03/22
Samsung nominated for additional state incentives through Texas Enterprise Zone Program
Austin Local by Justin Sayers
TAYLOR, Texas (Austin Business Journal) — While Samsung Electronics Co. Ltd. has already secured some local and state incentives for its $17 billion semiconductor factory under construction in in Taylor, it could receive additional refunds on some state taxes.
Taylor City Council on Aug. 25 unanimously approved nominating Samsung for the Texas Enterprise Zone Program, a state-administered sales and use tax refund program that is designed to encourage private investment and job creation in economically distressed areas.
Whether or not Samsung receives the designation is up to the state, which designates companies on a quarterly basis, with a maximum of 105 awardees each biennium. Companies approved for enterprise zone designations are eligible to apply for refunds of the state sales and use tax they already paid.
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