Texas Instruments Inks Preliminary Agreement To Get Up To $1.6B In Chips And Science Act Proposed Funding For Semiconductor Manufacturing In Texas & Utah; Company To Get $6B-$8B From U.S. Department of Treasury's Investment Tax Credit
Portfolio Pulse from Benzinga Newsdesk
Texas Instruments (TI) has secured a preliminary agreement for up to $1.6 billion in funding from the CHIPS and Science Act for semiconductor manufacturing in Texas and Utah. Additionally, TI expects to receive $6 billion to $8 billion from the U.S. Department of Treasury's Investment Tax Credit for U.S. manufacturing investments, and $10 million for workforce development, creating over 2,000 new jobs.
August 16, 2024 | 9:13 am
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Texas Instruments (TXN) is set to receive up to $1.6 billion in funding from the CHIPS and Science Act, $6 billion to $8 billion in tax credits, and $10 million for workforce development. This funding will support semiconductor manufacturing in Texas and Utah and create over 2,000 new jobs.
The significant funding and tax credits will likely boost Texas Instruments' manufacturing capabilities and financial position. The creation of new jobs and investment in workforce development further strengthens the company's growth prospects.
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