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San Jose considers Samsung incentives
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SAN JOSE (AP) — San Jose is set to consider finalizing a $7 million incentive package to keep Samsung Semiconductor in Silicon Valley and trump an open invitation from Austin, Texas, to expand its operations there. The City Council is expected to approve the plan at its Tuesday meeting, The package includes an expedited 120-day development permit process, a 50 percent break on utility taxes, and a $37,440 tax credit for each employee hired. The city is also reimbursing Samsung $500,000 for equipment purchases by the firm.