Gov. Greg Abbott, who announced the decision Thursday morning, said the state supported Texas Instruments with a $ 5.1 million grant from the Texas Enterprise Fund, the state's deal-finding deal. To get the money, Texas Instruments must first create at least 488 jobs.
Collin County, Plano ISD, and Richardson tax exemptions can also be claimed up to $ 375 million.
Doubles in the north of Texas
] With the new facility, Texas Instruments doubles in northern Texas. Richardson already has a large factory with about 800 employees. The new plant will be built next to the property of the company. In Texas, the company employs more than 9,000 people.
The company estimates that the new facility will grow to 850 employees, including 200 contract agents, according to a local presentation.
Texas Instruments said its existing Richardson facility has the fourth highest real estate value in Richardson and the eighth largest in Collin County, according to the presentation.
The company will immediately begin building a 800-car parking garage to support the growing number of Richardson employees, spokeswoman Nicole Bernard said. She said it had not set a construction date for the factory.
Texas Instruments considered the presentation to be two more sites for the new facility. It looked at a location in Singapore and a location in Upstate New York at the SUNY Polytechnic Institute in Marcy.
Kyle Flessner, senior vice president of the company's technology and manufacturing group, said in a statement that Texas Instruments chose Richardson for its proximity to its other facility and "access to talent, an existing supplier base and multiple airports" ,
Abbott's announcement referred to Texas as "a leader in developing innovative technologies from companies such as Texas Instruments."
"Made in Texas is a strong label, and this expansion will create hundreds of jobs and generate billions of dollars in investment and further consolidate Texas's reputation both domestically and abroad," he said.