Rikimaru
Member
Texas Instruments will receive as much as $1.6 billion in direct funding from the U.S. Commerce Department to support the construction of three new domestic facilities, the analog chipmaker said on Friday.
In addition to the agreement signed under the CHIPS and Science Act, Texas Instruments expects to receive about $6 billion to $8 billion in investment tax credit from the U.S. Treasury Department, it added.
The $1.6 billion funding would help the company support three manufacturing facilities that are already under construction in Texas and Utah. It plans to add more than 2,000 jobs across the facilities.
In addition to the agreement signed under the CHIPS and Science Act, Texas Instruments expects to receive about $6 billion to $8 billion in investment tax credit from the U.S. Treasury Department, it added.
The $1.6 billion funding would help the company support three manufacturing facilities that are already under construction in Texas and Utah. It plans to add more than 2,000 jobs across the facilities.
This investment in Texas Instruments is a positive move for the U.S. tech sector. 
It could really help them increase their production capabilities.