The Biden-Harris Administration has announced that Texas Instruments (TI) will receive up to $1.61 billion in funding from the U.S. Department of Commerce under the CHIPS Incentives Program. This investment aims to expand semiconductor production in the United States, supporting projects in Texas and Utah. The award follows a preliminary memorandum signed on August 16, 2024, and subsequent due diligence by the Department.
U.S. Secretary of Commerce Gina Raimondo emphasized the significance of this investment: “Shortages of current-generation and mature-node semiconductors were one of the driving forces behind supply chain disruptions during the pandemic, fueling innovation and putting our national security at risk.” She added that expanding U.S. capacity for these essential semiconductors strengthens economic security, enhances national safety, and creates numerous jobs.
White House Deputy Chief of Staff Natalie Quillian highlighted ongoing efforts to boost domestic semiconductor manufacturing: “Today’s final agreement with Texas Instruments continues to expand production in the U.S. for the foundational chips that power all electronic systems.” She noted that over $32 billion has been invested so far, catalyzing more than $400 billion in private funds.
Texas Instruments plays a critical role as a global leader in analog and embedded processing semiconductors. The company plans to invest over $18 billion by decade's end to build three new facilities—two in Texas and one in Utah—expected to generate over 2,000 manufacturing jobs along with thousands of construction jobs.
Haviv Ilan, president and CEO of Texas Instruments, stated: “As the largest analog and embedded processing semiconductor manufacturer in the U.S., TI is uniquely positioned to provide dependable, low-cost 300mm semiconductor manufacturing capacity at scale.”
CHIPS for America has allocated more than $32 billion out of an intended $36 billion incentives fund across 21 states, expected to create upwards of 125,000 jobs. This initiative aligns with President Biden's economic plan focused on investing domestically while fostering private sector growth.
For further details about this award, interested parties can visit the CHIPS for America website.
