Williamson County looks to bring in more Korean businesses, already sees huge economic impact

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Feb 22nd, 2024

WILLIAMSON COUNTY, Texas (KXAN) — A recent visit to South Korea by Williamson County and City of Taylor leaders highlighted ongoing efforts to bring in a variety of businesses including support industries to Samsung’s Semiconductor plant in Taylor.

“While we were there we called on 27 companies in total and we came back with a number of good leads,” said Dave Porter, executive director of the Williamson County Economic Development Partnership.

Porter was among leaders who traveled to Korea last month. He said the party was invited by the U.S. Embassy to speak at a semiconductor trade show.

While there, he said they spoke with dozens of businesses about the prospect of setting up some of their operations in Williamson County.

“We’re seeing a lot of activity not just out of the semiconductor industry, but the automotive, the medical device, the solar software,” Porter said.

Porter said the county’s partnership with the Korea Trade-Investment Promotion Agency (KOTRA) has been beneficial to contacting a diverse array of industries.

Samsung Austin Semiconductor says economic impact doubled last year

Samsung Austin Semiconductor said from 2022-2023 its economic impact on the region doubled from $13.6 billion to $26.8 billion.

It attributed some of that impact to its Taylor campus. The company also said, “the Austin and Taylor campuses generated $245.6 million in annual revenues for local taxing districts.”

In a statement, Taylor Mayor Brandt Rydell confirmed the economic impact of Samsung in the community has been notable.

“When we are talking about transformational growth for Taylor, this is what Samsung Austin Semiconductor is contributing. The report for 2023 and the expansive ripple effect it has had on our community and local businesses is impressive by any measure. Taylor has been preparing for this kind of growth for years, and the numbers speak for themselves. The cumulative sales and use tax revenue through August 2023 was $23.8 million, $16.5 million more than the same time period for FY 2021-2022. That’s a 226% increase thanks to an increase in visitors and businesses in the area. With the increase in sales and use tax, we’ve been able to pay for overall city operations and services, which is making Taylor a better place for its residents.” – TAYLOR MAYOR BRANDT RYDELL

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