Texas Instruments has signed a preliminary agreement to receive up to $1.6 billion in CHIPS and Science Act proposed funding for semiconductor manufacturing in both Texas and Utah, in the United States.
The US Department of Commerce has proposed up to $1.6 billion for Texas Instruments through the CHIPS and Science Act to support three new 300mm semiconductor wafer fabs that are under construction in Texas and Utah.
Texas Instruments expects to receive an estimated $6 billion to $8 billion from the US Department of Treasury’s Investment Tax Credit for qualified US manufacturing investments. The company also expects to receive $10 million in proposed funding for workforce development, as it creates over 2000 new jobs at Texas Instruments, and thousands of indirect jobs for construction, suppliers, and supporting industries.
Haviv Ilan, president and CEO of Texas Instruments, said: “The historic CHIPS Act is enabling more semiconductor manufacturing capacity in the U.S., making the semiconductor ecosystem stronger and more resilient. Our investments further strengthen our competitive advantage in manufacturing and technology as we expand our 300mm manufacturing operations in the U.S. With plans to grow our internal manufacturing to more than 95% by 2030, we’re building geopolitically dependable, 300mm capacity at scale to provide the analog and embedded processing chips our customers will need for years to come“.
U.S. Secretary of Commerce Gina Raimondo, said: “With this proposed investment from the Biden-Harris Administration in TI, a global leader of production for current-generation and mature-node chips, we would help secure the supply chain for these foundational semiconductors that are used in every sector of the U.S. economy, and create tens of thousands of jobs in Texas and Utah. The CHIPS for America program will supercharge American technology and innovation and make our country more secure – and TI is expected to be an important part of the success of the Biden-Harris Administration’s work to revitalize semiconductor manufacturing and development in the U.S.“.
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Texas Gov. Greg Abbott, said: “We are proud to work with Texas Instruments as they build new semiconductor fabs in Sherman and solidify Texas as the best state for semiconductors. Texas Instruments invented the microchip in Texas, and we are honored to be home to TI’s semiconductor manufacturing facilities in Dallas, Richardson and Sherman. With this latest project, TI is building on its more than 90-year legacy in Texas and adding thousands of good-paying jobs for Texans to manufacture critically important technology“.
Utah Gov. Spencer Cox, said: “Utah is thrilled that Texas Instruments is expanding its manufacturing presence in the Silicon Slopes, furthering the impact Utahns have on critical semiconductor technology. This investment in semiconductor manufacturing not only creates more jobs, but also brings supply chains back to the United States“.