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Governor Brown Touts Enterprise Zones in Samsung Expansion Deal

Governor Brown has posted a press release announcing a Memorandum of Understanding with Samsung Semiconductor Inc. to expand its R&D operations in San Jose. The press release quotes the Governor as saying:

“Samsung’s expansion in California is great news and it further strengthens the state’s role as a world leader in innovation,” said Governor Brown. “Here’s a case where government and business work together – and everyone benefits.”

The press release includes the entire text of the MOU describing the various incentives being offered to Samsung Semiconductor such as State R&D tax credits, and:

Enterprise Zone Benefits (City of San Jose): Tax credit for eligible employees hired after July 1, 2012 up to December 30, 2021. The hiring tax credit is worth about $37,440 per eligible employee over a five year time frame. Income tax credit on all computers, copiers, faxes, and R&D / manufacturing / assembly equipment equivalent to the amount of sales and use tax paid.

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