Nvidia, the world’s largest company, gets at least $23 million in incentives

Nvidia, the most valuable company in the world, secured at least $23 million in incentives from Irving as the chipmaking giant aims to produce supercomputers domestically.

Irving City Council approved the incentives, tax breaks and lent support for a foreign trade designation for the Nvidia’s facility earlier this month. A price tag for the incentive package was not provided during public meetings or in associated city documents. Officials provided The Dallas Morning News with the projections Thursday.

City officials estimate the value of the tax rebate at least $23 million over the next decade. Additional breaks will be provided based on any increase in the taxable value of the company’s equipment and property at 1101 Valley View Lane.

The total taxable value of its Irving holdings are $782.5 million, according to estimates of city officials and the Dallas Central Appraisal District. 

Attempts to contact Nvidia were not returned before publication. The chip giant also agreed to pay the city a sum each year if the site is designated a foreign trade zone.