Posting Language
Title
Approve a resolution nominating Samsung Austin Semiconductor, LLC, located at 12100 Samsung Boulevard, Austin, Texas, 78754, for designation by the Texas Governor’s Economic Development and Tourism Office as a single Texas Enterprise Project in accordance with Texas Government Code Chapter 2303. Funding: The City is only required to provide a nomination and is not obligated to provide any funds or incentives.
De
Lead Department
Economic Development.
Fiscal Note
No fiscal impact.
Prior Council Action:
October 18, 2007 - Council approved Ordinance No 20071018-008 electing to participate in the Texas Enterprise Zone Program.
November 4, 2010 - Council approved Ordinance No. 20101104-046 amending its program identifying additional local incentives for the Texas Enterprise Zone Program.
November 14, 2019 - Council approved Ordinance No. 20191114-068 amending its program identifying additional local incentives for the Texas Enterprise Zone Program.
August 29, 2024 - Council approved Ordinance No. 20240829-154 amending its program identifying updated local incentives for the Texas Enterprise Zone Program.
November 7, 2024 - Council approved Ordinance No. 20241107-041 amending the program to update local incentives for the Texas Enterprise Zone Program.
For More Information:
Anthony Segura, Interim Director, Economic Development Department, 512-974-3187; Haileigh Meyers, Program Manager II, 512-974-2254.
Additional Backup Information:
As a result of this project, Samsung Austin Semiconductor, LLC (Samsung) plans to invest over $1.9 billion to retrofit their current facility and towards the acquisition of advanced semiconductor equipment. Samsung expects to retain 500 existing full-time jobs for benefit under the Enterprise Zone Program. The State Enterprise Zone designation would not include any additional incentive from the City. Although the City is required to nominate a company, the State is ultimately responsible for the designation. If designated by the State, Samsung will be eligible for a refund of State sales and use taxes.
This item requests the City’s support of a Texas Enterprise Zone Single Designation. The Company seeks to submit its Texas Enterprise Zone Application to the Texas Governor’s Economic Development and Tourism Office for the December 1, 2025, application round.