Will finance building of 2 sites in the US (Il Sole 24 Ore Radiocor) - New York, 16 Aug - The US technology group Texas Instruments (TI) said that it signed a preliminary agreement to receive up to 1.6 billion dollars in funding for semiconductor manufacturing in Texas and Utah under the CHIPS and Science Act.

TI added that it expects to receive an estimated 6-8 billion dollars from the US Department of Treasury's Investment Tax Credit for qualified US manufacturing investments.

The company also expects to receive 10 million dollars in proposed funding for workforce development.

TI said that the proposed direct funding under the CHIPS Act will support investment of more than 18 billion dollars through 2029. It will support three new wafer fabs, two in Sherman, Texas and one in Lehi, Utah, it added.

The company expects to create more than 2,000 company jobs across the three new sites in Texas and Utah, along with thousands of indirect jobs for construction, suppliers and supporting industries.

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(RADIOCOR) 16-08-24 13:02:04 (0226) 5 NNNN