Texas Instruments is the latest recipient of CHIPS Act funds. The 2022 law, signed by President Biden to boost domestic silicon production in the face of increasing Chinese chip imports, will award TI $1.6 billion in grants. The company will also receive $3 billion in loans and tax credits that could amount to $6 to $8 billion.
The effort is expected to create over 2,000 US manufacturing jobs at Texas Instruments’ new plants and “thousands of indirect jobs” for construction, suppliers and supporting industries. TI says it expects to receive another $10 million to fund workforce development.
TI’s grant money will go towards three chip fabs already under construction in Texas and Utah. The plants will produce 300mm silicon wafer chips under the bill’s $2 billion minimum set aside for legacy chips. The CHIPS Act primarily focuses on cutting-edge silicon, like those increasingly…
