The U.S. Department of Commerce announced Friday that a $1.6 billion investment would help Texas Instruments expand its operations in Texas.
The money would go towards TI's location in Sherman, Texas. What led to this investment was due to the bipartisan CHIPS and Science Act, which Congressman Colin Allred was the main supporter of the bill.
Signed into law two years ago, Allred hoped this act would help bring jobs and expand the economy of Texas.
"Texas Instruments has long been a stalwart of innovation and industry in our region, and this investment will help them create 2,000 manufacturing jobs, and thousands of construction jobs, all while cementing Texas as a global leader in the semiconductor industry," Allred said. "I am so proud to have supported the CHIPS Act, and I will keep working to ensure it continues to deliver for our state.”
Other companies in Texas such as Samsung and GlobalWafers, had also experienced a positive impact from the bipartisan law. GlobalWafers received $400 million in funding and Samsung received $6 billion to expand its operations.
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