The largest economic development project in Texas history is underway in south Sherman. Texas Instruments has broken ground on a new, $30 billion microchip production facility that will be among the largest factories in the United States once complete. The 4.7-million-square-foot fabrication plant will employ more than 3,000 people and contribute millions of dollars to the Grayson County economy every year.
"In the midst of a worldwide chip shortage, TI's historic, long-term investment in Sherman will expand Texas' global economic influence and benefit Americans across the country by strengthening our domestic semiconductor supply chain," said Texas Governor Greg Abbott. "This new plant will be a boon to the hardworking people of North Texas, and I thank TI for their continued investment in the Lone Star State as we develop our growing advanced technology industry and keep our state a national leader in semiconductor manufacturing."
Construction on the first two phases of the project is expected to take approximately two years, with production beginning in early 2025. TI's $30 billion investment in American manufacturing will provide a stable, onshore source of state-of-the-art chips for a variety of applications in electronics, big and small.
"Today is an important milestone as we lay the groundwork for the future growth of semiconductors in electronics to support our customers’ demand for decades to come," said Rich Templeton, Texas Instruments Chairman, President, and CEO. "Since our founding more than 90 years ago, we’ve operated with a passion to create a better world by making electronics more affordable through semiconductors. TI is excited to bring advanced 300-mm semiconductor manufacturing to Sherman."
Sherman projects tremendous growth associated with the project, with more than 600 new homes in 2022 and several planned developments poised to push that number even higher in the years to come.
"We’ve been fortunate in Sherman to have mayors and councils and state representatives and US Congressmen who had the foresight to make hard decisions in the past that made this project possible," said Sherman Mayor David Plyler. "They bought water rights before we needed them. They kept budgets tight so our citizens could enjoy some of the lowest taxes in the state. But above all else, they worked to make sure that Sherman was a good place to do business."