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US to award Samsung up to $6.6 billion chip subsidy for Texas expansion, sources say (www.reuters.com)

submitted 7 months ago by [email protected] to c/[email protected]

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[–] [email protected] 9 points 7 months ago (1 children)

Growth in an industry drives tax growth, job growth, and wage growth.

That's some bullshit. These places will pay no taxes, create the most minimal of jobs, and pay next to nothing. Then, when their tax breaks run out, they pack up and move to the next tax break.

Furthermore initiatives like this one insulate the country from strategic holes. The US goverment and tax payers most certainly get dividends on investment.

Someone is profiting from this, but isn't the taxpayers.

[–] [email protected] 4 points 7 months ago* (last edited 7 months ago) (1 children)

These places will pay no taxes, create the most minimal of jobs, and pay next to nothing.

You are talking about a clean room chip fab here. They employ highly skilled labor that is paid quite well.

Then, when their tax breaks run out, they pack up and move to the next tax break.

Chip fabs do not just 'pack up and move'. They are horrendously expensive to build and run for decades. The whole place is a clean room for an idea of how difficult these things are to build. Here is a video of a tour of one of Intel's chip fabs.

[–] thedevisinthedetails 2 points 7 months ago

They'll make a new entity that extracts most of the profit while the production facility operates at cost or even a loss. Jurisdiction shopping is a thing even within the US.