According to published reports this week, Samsung has designs on expanding its presence in Silicon Valley for the purchase of advancing its research and development aims.
Aided greatly by state and local tax breaks, Samsung is even exciting the California job market with promise of new career opportunities in this highly competitive market.
“Samsung’s expansion in California is great news and it further strengthens the state’s role as a world leader in innovation,” California Governor Jerry Brown, said last summer as tax breaks for the tech giant were first discussed. “Here’s a case where government and business work together—and everyone benefits.”
We can now confirm Samsung’s plan for a new 1.1 million square-foot headquarters specifically for Samsung Semiconductor and another 385,000 square-foot facility dedicated to Samsung Information Systems America.
According to the EE Times, Samsung also received “an R&D tax credit from California and a discounted rate from Pacific Gas and Electric, which supplies power in the area.”