Arizona land department again postpones auctions for property eyed by Samsung
By Corina Vanek | Phoenix Business Journal
For a fourth time, two Arizona State Land Department auctions for land that had been under consideration as a potential site for a new Samsung factory were adjourned after no bidders placed bids.
The appraisals on both parcels were set to expire next week, but the department’s board voted Thursday to extend them. The parcels are now scheduled to go up for auction on September 16.
“While those Texas cities may legally be able to outright hand Samsung cash, the Arizona Commerce Authority, along with the cities of Goodyear and Queen Creek, can most definitely construct a legal incentive package that gets Samsung a far more robust package than just cash. In addition, with the recent unreliability of the Texas power grid and the various potential for nature driven natural disasters in Texas, Arizona would seem to be the choice that eliminates the most unnecessary risk.”
–Jordan Rose, Rose Law Group Founder and President