Texas Instruments has secured more than $1.6 billion in federal funding to construct new semiconductor fabrication plants, including two in North Texas.
The U.S. Department of Commerce said it would provide the funding to the Dallas-based company as part of the CHIPS and Science Act. The money will support building three new facilities: two in Sherman, north of Dallas, and one in Utah. TI expects the new fabrication plants to collectively produce tens of millions of analog and embedded processing chips daily.
This is not the first time TI has landed government support for its project in the region.
Last year, The Dallas Express reported that the semiconductor manufacturer and GlobiTech were granted subsidies totaling almost $3 billion from the City of Sherman and other local tax entities to help set up operations in the area.
A spokesperson from TI said semiconductor production at the new facilities in Sherman could kick off as early as next year, with construction already underway. The 300-millimeter fabrication plants are expected to create around 2,000 jobs, with thousands more indirectly created.
Since the CHIPS and Science Act was passed in 2021, Texas Gov. Greg Abbott has attempted to gain funding to help boost semiconductor production in the Lone Star State.
“The CHIPS Act presents further opportunities for Texas in Research and Development … and manufacturing, in the form of federal incentives to attract semiconductor manufacturing facilities and their suppliers back to the United States,” Abbott said in a budget proposal dated February 2023.
Earlier this year, The Dallas Express detailed TI’s plans to invest an estimated $119 million in renovating its Dallas headquarters. A state filing showed the project would entail refreshing over 500,000 square feet of its Kilby West building located near I-635 and U.S. 75. The semiconductor manufacturer’s HQ renovations are expected to be completed by January 1, 2027.