Landing Samsung Electronics Co.¡¯s massive new chip plant didn¡¯t come cheap for Taylor, Texas. The question now is whether the investment will pay off.
State and local officials offered a raft of incentives to lure the plant to the town, which is in Austin¡¯s northeastern suburban fringe. It all could amount to hundreds of millions of dollars for what¡¯s expected to be one of the largest foreign investments in the U.S.
The approach underscores a debate that¡¯s raged for years about heavily subsidized economic development projects. Research suggests they don¡¯t always deliver, despite the eye-popping numbers in pitch decks and the politicians racing around to take credit for delivering jobs.
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