Micron wants tax breaks for $160b Texas chip fab plant
Chapter 313 refers to a section of the Texas state tax code which incentivizes property investments in exchange for tax breaks over a period of 10 years.
“There are several factors that contribute to Texas’s favorability for development, one however that does not is the state’s notoriously-high property tax burden,” Micron’s application reads. If Micron is unable to obtain such a cap, the chipmaker says it will likely pursue other locations with more favorable incentives. The application cites Singapore, Taiwan, or Japan as potential alternatives.
Micron isn’t the only chipmaker looking to capitalize on Chapter 313 either. South Korean foundry operator Samsung Electronics recentlya flurry of applications with the Texas comptroller’s office seeking tax breaks on as many as 11 fabs valued at nearly $200 billion. However, neither Samsung nor Micron have committed to pursuing these projects. And even if they do, it’s unclear when construction would begin. ®
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