Under the agreement, the U.S. will provide $1.6 billion to help Texas Instruments construct three semiconductor factories—two in Texas and one in Utah. This funding will support the company’s investment plan, which aims to inject up to $18 billion into these facilities by 2029.
These factories are expected to produce over 100 million chips per day and create around 2,000 engineering jobs, as well as thousands of construction jobs.
In addition to the financial support, Texas Instruments is projected to receive $6 to $8 billion in tax incentives and $10 million for workforce development.
This $1.6 billion contribution is part of the $52 billion budget under the Chips and Science Act of 2022. To date, the U.S. has spent over $30 billion from this budget to help companies like Intel, Samsung, and TSMC build and expand semiconductor factories across the U.S.
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Source: Vietnam Insider