Gov. Greg Abbott, who announced the decision Thursday morning, said the state will assist Texas Instruments with $ 5.1 million in grant money from the Texas Enterprise Fund, the so-called deal closer fund. To receive the money, Texas Instruments must first create a minimum of 488 jobs.
It is also eligible for as much as $ 375 million in tax breaks from Collin County, Plano ISD and Richardson
Doubling Down on North Texas
] With the new facility, Texas Instruments is doubling down on North Texas. It has already a large factory in Richardson with about 800 employees. The new plant will be built next to that one on land the company already owns. It has more than 9,000 employees in Texas.
Texas Instruments said its existing Richardson facility has the fourth highest property value in Richardson
The company estimates its new facility will grow to 850 people, including 200 contract employees, according to a presentation made to local governments. and the eighth largest in Collin County, according to the presentation.
The company will immediately begin building a 800-space parking garage to support its growing number of Richardson employees, spokeswoman Nicole Bernard said.
Texas Instruments considered two other locations for the new facility, according to the presentation.
Kyle Flessner, senior vice president of the company's technology and manufacturing group, said in a statement that Texas Instruments chose Richardson because of its its proximity to its other facility and its access to talent, an existing supplier base and multiple airports. "
"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.