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Austin

Samsung starts $1.8B “confidential project” near Austin

Project is a part of Samsung’s $17B semiconductor project in Central Texas

Samsung Electronics' KS Choi
Samsung Electronics' KS Choi (Getty)

Samsung is driving North Austin’s real estate market with a $17 billion semiconductor manufacturing campus in Taylor, Texas, announced last year.

Plans for Samsung’s plant, northwest of Austin in Williamson county, have started to emerge. The South Korea-based electronics giant’s five-building “confidential project,” filed with the Texas Department of Licensing and Regulation, takes up $1.8 billion of the $17 billion project.

Dallas-based Jacobs Engineering started construction on Samsung’s buildings on Nov. 5 and is expected to complete them on Nov. 5, 2024, according to state filings.

Here’s what The Real Deal learned about each of the five buildings:

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  • $950-million, three-story, 800,000-square-foot manufacturing plant that will include technical support spaces for Samsung’s manufacturing use
  • $300-million, three-story, 1.2 million-square-foot fabrication plant
  • 443,000-square-foot, two-story structure named the “GCS Building”
  • $150 million, six-story, 350,000-square-foot corporate office
  • $15 million, six-story, 300,000-square-foot parking garage

Samsung’s project has also attracted suppliers to set up shop in Central Texas, and multifamily developers are investing in the region.

Samsung’s presence in Austin and Taylor, in nearby Williamson County, will be completed by the early 2040s. The company says it plans to invest $192 billion in Central Texas. The company has sought $500 million in tax breaks from Austin and Taylor in exchange.

Although Taylor has sought to claw back some of those funds by annexing the site of Samsung’s plant. Overall, Samsung is expected to rake in close to $1 billion in tax savings.

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