Texas Instruments said it was investing in more chip production in North Texas with or without the CHIPS Act. But Thursday’s vote in the U.S. House of Representatives clears the way for the company to benefit once the act is signed into law.
In November 2021, Texas Instruments selected Sherman as the site of a chip-making campus with up to four plants worth up $30 billion. The company, which produces the analog chips inside everything from pick-up trucks to factory equipment, broke ground in Sherman this May. It received sizable tax breaks from local governments for the project. Texas Instruments also has two manufacturing sites in Richardson, including a second $3.1 billion investment that will soon be ready to support production.
The CHIPS Act had not yet passed the House when company executives reported second-quarter earnings on Tuesday, but all signs pointed toward support for the bill, and banking analysts asked company leaders about it.
