Texas Instruments Secures $1.6 Billion to Enhance U.S. Chip Manufacturing
Texas Instruments Boosts U.S. Chip Manufacturing
Texas Instruments has been awarded funding up to $1.6 billion by the U.S. Commerce Department to construct three new facilities. This initiative is part of a broader strategy to strengthen domestic chip production. The funding follows the U.S. CHIPS and Science Act, demonstrating a renewed focus on the semiconductor industry.
Funding Details
The funding will enable Texas Instruments to build two factories in Texas and one in Utah. In total, the company has pledged over $18 billion to the projects by 2029, with an expectation of creating 2,000 manufacturing jobs.
Investment Tax Credits and Support
- Expected investment tax credit of $6 billion to $8 billion from the U.S. Treasury Department.
- Additionally, $10 million in funding allocated for workforce development.
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