Asian Tech Press (Sep 6) -- The city of Taylor, Texas plans to offer a large property tax break once it is picked by South Korean electronics giant Samsung to build a $17 billion chip plant, Reuters reported on Mnoday.

In March, Samsung said it was considering investing $17 billion to build chipmaking factories in the U.S. and selected Austin, the capital of Texas, as one of its sites.

In July, the plant site has changed, and Samsung's target has turned to the city of Taylor, Williamson County, Texas.

It appears that Taylor is now competing with another Texas rival, Austin, for the more than $17 billion investment by Samsung, which will bring 1,800 new jobs to Texas.

Reuters said the city's proposed resolution document shows it will provide a subsidy equal to 92.5% of assessed property taxes for 10 years for the land that Samsung will use, 90% for the next 10 years and 85% for the next 10 years after that.

In addition, the city of Taylor is offering incentives such as a 92.5% tax exemption for new property built on the site for 10 years and reimbursement of development review costs.

The city will consider the proposed resolution on Wednesday for the incentives for Samsung to build the plant.