LEHI, Utah (ABC4) – Texas Industries (TI), a technology company that designs and manufactures semiconductors, is building a new fabrication plant in Lehi.
The new plant will be built next to its already existing fabrication plant and will be used to create 300-millimeter semiconductors. The new plant will begin construction in 2023 and is expected to be completed in 2026.
The new factory will reportedly bring $11 billion in investment to Utah’s economy, which is being hailed as the largest economic investment in Utah history. An additional 800 jobs with TI will be created with the new factory and thousands of indirect jobs will be provided. With the move, TI will continue to work with the Alpine School District to invest $9 million to improve student opportunities.
TI Executive Vice President and Chief Operating Officer Haviv Ilan said the decision to build a second fabrication plant in Lehi shows the commitment the company has to Utah and is a testament to the Lehi team.
“With the anticipated growth of semiconductors in electronics, particularly in industrial and automotive, and the passage of the CHIPS and Science Act, there is no better time to further invest in our internal manufacturing capacity,” said Ilan.
The CHIPs and Science Act, which was backed by Utah Senator Mitt Romney, was passed into law in 2022 and incentives tech companies to develop semiconductors in the United States and strengthen microelectronic production in the country.
As part of the incentives from Utah’s Economic Development Tax Increment Financing program, TI could receive up to 30% of new taxes over the next 20 years in post-performance tax credit.
“Utah continues to be a great place to do business and today’s announcement further proves that,” Romney said. “I was proud to support the legislation that made this historic investment in our state possible, which will strengthen our country’s manufacturing capabilities and help break U.S. dependence on China for microchips.”
Utah Governor Spencer Cox also applauded the company’s decision to invest in Utah with the new fabrication plant saying that they choose Utah because of the state’s “world-class business climate” and exceptional workforce.
“TI’s new semiconductor factory will solidify Utah as a global semiconductor manufacturing hub for generations to come,” said Cox
Texas Instruments is headquartered in Dallas, Texas, and has operations in more than 30 countries with around 33,000 employees worldwide.