Dallas-based Texas Instruments has chosen Richardson, Texas as the site for an approximately $3.1 billion facility that's expected to create more than 488 jobs.
Texas Gov. Greg Abbott announced the news Thursday morning on the governor's office website. The semiconductor company will receive millions of dollars in tax incentives from the state, along with Collin County, Plano ISD and the city of Richardson. It will receive more than $5.1 million from the Texas Enterprise Fund, the state's so-called deal closer fund, if it follows through on its capital investment and job creation commitments.
With the new facility, Texas Instruments is doubling down on North Texas. It already has a large factory in Richardson and owns the land where the facility will be built. It has more than 9,000 employees in Texas.
The new plant will boost Texas Instruments' chip production for a broad range of uses, such as smartphones, connected cars and industrial machinery. It's already the biggest maker of analog semiconductors.
Kyle Flessner, senior vice president of the company's technology & manufacturing group, said in a news release that Texas Instruments chose Richardson because of its proximity to its other Richardson facility and "its access to talent, an existing supplier base and multiple airports."
Abbott called Texas "a leader in the development of innovative technologies because of companies like Texas Instruments" in the news release.
"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.
For months, the Dallas-based chipmaker has been weighing where to put the new facility and asking for big tax breaks for the potential expansion. It detailed plans for a new Richardson site in an application for a 10-year tax incentive agreement with Plano ISD, the school district where the facility will be based.
But in the application, Texas Instruments said it was evaluating other locations outside of Texas. A company spokesperson would not say which cities, states or countries the company was considering.
Plano ISD extended the company's deadline for the tax incentive agreement and ultimately approved the deal.
