Texas Instruments set to build new chip factory in Lehi

LEHI, Utah — Utah Gov. Spencer Cox announced that Texas Instruments would create a new semiconductor factory in Lehi, bringing “hundreds of jobs” to the state.

On Wednesday, Texas Instruments CEO Haviv Ilan and other state officials at the Utah Capitol joined the governor on Wednesday to announce this new factory.

“Companies like Texas Instruments continue to invest in Utah because of our world-class business climate and exceptional workforce,” Cox said. “TI’s new semiconductor factory will solidify Utah as a global semiconductor manufacturing hub for generations to come.”

According to a media release, the technology company was granted a post-performance tax reduction to build the factory in Utah.

During the press conference Ryan Starks, executive director of the Governor’s Office of Economic Opportunity, said that the state may pay 30% of the company’s new taxes over 20 years.

“As part of the agreement, (Texas Instruments) plans to add 800 new, high-tech jobs and invest $11 billion in Utah,” reads the release. “This investment is the largest economic investment in Utah’s history.”

The governor’s office believes this new factory will bring 800 new jobs and over $111,000,000 of state tax revenue.

“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.

This factory will be the second Texas Instruments factory in Lehi and is planned to be next to the first one. The company designs and makes semiconductors sold to electronic designers and manufacturers.