BUSINESS + ECONOMY
Texas Instruments expanding in Lehi, will build microchips
LEHI, Utah — Utah’s getting a bigger semiconductor chip plant at Silicon Slopes. Texas Instruments has selected Lehi to build a second semiconductor wafer fabrication plant (or fab).
“We did have other options,” said incoming TI CEO Haviv Ilan. “I think the talent we have [in Utah] was a big factor, the second thing was community. We feel we can do business here for decades to come.”
The company says the new farm will bring in 800 jobs, with pay starting around $110,000 per year. It’s an $11 billion dollar investment in Utah.
“Particularly in industrial and automotive and the passage of the CHIPS and Science act, there is no better time to invest in semiconductor manufacturing,” said Illan.
Texas Instruments also got some tax incentives to set up in the Beehive state.
“TI may receive up to 30% of the additional state taxes it will pay over the 20-year life of the agreement in the form of a tax credit. Each year TI meets the criteria in its contract with the state, it will qualify for a portion of the total tax credit,” the Governor’s office says.
Gov. Spencer Cox made the announcement today. He was joined by Utah’s Senate President Stuart Adams, R-Layton, House Speaker Brad Wilson, R-Kaysville, and Congressman Burgess Owens, R-Utah.
Members of the governor’s Office of Economic Development called the announcement “a huge day for team Utah.”
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