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 desig...
Click here for full text