Austin and NY in bidding war for Samsung facility?
Kirk Ladendorf writes in The Austin American-Statesman:
Austin's bid to land a new Samsung Electronics Co. Ltd. chip plant just got more interesting.
The State of New York, which lured a major Sematech research project from Austin three years ago, also is pursuing the proposed $3.5 billion new chip factory.
Gov. George Pataki's administration has watched Austin's public recruitment process and has made an "incredibly lucrative" offer to the South Korean chip maker, according to a source close to negotiations who asked not to be named.
Those involved with Austin's incentives package are aware of the New York offer and acknowledge that it far exceeds the $210 million to $225 million that Central Texas is expected to offer. By one estimate, the New York offer exceeds $300 million.
posted by Fergie @ 8/26/2005 09:14:00 AM
2 Comments:
From someone who lives next to the 2000 acre pine forest in upstate NY that will be gutted for chip fabs, I say - Austin - you can have it!
The last thing that we need is a 38% drop in employment brought about by the chip fab cycle. We have already seen outragous real estate speculation driving prices in our quiet rural community way beyond the means of locals. The developer has started buying houses on my street for twice the asking price (!). These Albany sharks have lied and bribed thier way to shove this unwanted project down the town's throat.
Whatever company plans to locate here better be ready to pay for all the infrastucture (there ain't nothin there) and also buy an increadible amount of water, whether they need it or not, to pay for the whole Saratoga County water system 'cause that's who the developer is saying is going to finance the county water system.
We (Austin) did get it.
See "Samsung Picks Austin for $3.5 Billion Plant".
Cheers,
- ferg
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