Texas Instruments to Build $ 3.1 Billion Chip Factory, Creating Almost 500 Jobs in Richardson | Technology
gov. Greg Abbott, who announced the decision on Thursday morning, said the state would assist Texas Instruments with $ 5.1 million in grants from the Texas Enterprise Fund, the state's so-called agreement fund. To receive the money, Texas Instruments must first create at least 488 jobs.
It is also eligible for as much as $ 375 million in tax relief from Collin County, Plano ISD and Richardson.
Doubling Down on North Texas
] With the new facility, Texas Instruments doubles down on North Texas. It already has a large factory in Richardson with approximately 800 employees. The new factory will be built next to the one on the land the company already owns. It has more than 9,000 employees in Texas.
The company estimates that the new facility will grow to up to 850 people, including 200 contract staff, according to a presentation made to local authorities.
Texas Instruments said existing Richardson plants have the fourth highest real estate value in Richardson and the eighth largest in Collin County, according to the presentation.
The company will immediately start building an 800-seat car park to support its growing number of Richardson employees, spokeswoman Nicole Bernard said. She said it didn't set a date for the factory.
Texas Instruments considered two other sites for the new facility, according to the presentation. It looked at a website in Singapore and a site in Upstate New York at SUNY Polytechnic Institute in Marcy.
Kyle Flessner, senior vice president of company technology and production group, said in a statement that Texas Instruments chose Richardson because of its proximity to its second facility and "its access to talent, an existing supplier base and several airports."
Abbot's announcement called Texas "a leader in the development of innovative technologies due to companies like Texas Instruments."
"Made in Texas is a powerful label, and this expansion will create hundreds of jobs, generate billions in capital investment, and further solidify Texas reputation both at home and abroad," he said.