Government Subsidy Supports Texas Instruments' Expansion
Aug/19/2024
Texas Instruments, a leading chipmaker, is poised to receive a substantial government subsidy totaling $1.6 billion to bolster its plans for constructing three new factories across the United States. Under a preliminary agreement, the company is also set to benefit from an additional $8 billion in tax breaks. This financial backing aims to facilitate the establishment of cutting-edge semiconductor production facilities in Texas and Utah, focused on manufacturing 300-millimeter silicon wafers crucial for advanced chip production. This initiative falls under the broader Chip and Science Act, signed into law by President Joe Biden in March 2022, which earmarks $52 billion to enhance domestic semiconductor manufacturing capabilities as part of a $280 billion legislative package. In a similar vein, the Biden administration previously allocated up to $400 million in support to Taiwanese silicon wafer maker GlobalWafers, underscoring the government's commitment to strengthening the nation's semiconductor supply chain.
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