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Chip Supplier Near Texas Capital Denied Tax Breaks for Expansion

May 20, 2022, 9:15 PM

An Austin, Texas-area semiconductor supplier lost out on its bid for property-tax breaks in exchange for expanding operations in the region.

Toppan Photomasks Inc. had planned a $900 million investment in the northern suburb of Round Rock, but lost a vote before the local school board that needed to sign off on the deal.

It’s a surprising defeat for the semiconductor industry in Texas, which has seen a surge of investment from major chipmakers including Texas Instruments Inc. and Samsung Electronics Co. Both of those firms received large property-tax breaks in exchange for multibillion-dollar investments through a program known as ...