Samsung has stopped production at its Austin plant after power outages hit Texas and the authorities asked big users to cut back their operations because
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The complete turnaround on where influential people want to live and work has been one of the pandemic’s most unexpected effects. While people left expensive coastal cities like San Francisco and New York en masse, smaller cities all over the country saw an influx of people looking for cheaper rent and less dense surroundings.
The Milken Institute Best-Performing Cities Index’s annual ranking of the country’s powerhouse cities solidified a phenomenon that took place through much of 2020: San Francisco, which took the top spot in 2019, did not make the list at all this year while Provo, Utah, rose to take first place.
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Samsung seeks to have almost $1bn shaved off property taxes for planned Texas semiconductor fab
Company notes that it can always take its biz elsewhere as tech firms jostle to move to Lone Star state
Matthew Hughes Fri 5 Feb 2021 // 16:57 UTC Share
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Samsung is seeking a taxpayer bung of almost $1bn for its proposed semiconductor fabrication plant in Texas, according to documents filed with the state.
The requested package [PDF] includes tax reductions from the city of Austin, Travis County, and the Manor Independent School District, as well as unspecified assistance from the Texas Enterprise Fund.
In total, Samsung is seeking $805m in property tax abatements, with Austin cutting taxes by 50 per cent for the first five years of operations, and Travis County foregoing all property tax revenue from the project until 2030. Separate deals with the Manor Independent School District may total more than $200m over 20 years, with Samsung aiming to reduce