AUSTIN — Gov. Greg Abbott announced Wednesday a Texas-focused plan to further push semiconductor development in the Lone Star State.
The Creating Helpful Incentives to Produce Semiconductors, or CHIPS, Act is a 2022 federal law that dedicated $52.7 billion to promote domestic semiconductor manufacturing investments. Now, Texas is looking to pass its own version of the law.
“In recent years, Texas has risen to be number one in the United States of America for semiconductor manufacturing, … but to achieve our promise for the remainder of this century, we need to pass the Texas CHIPS Act,” Abbott said.
The Texas CHIPS Act creates a Semiconductor Innovation Consortium and Fund, among other initiatives.
The consortium will leverage the expertise and capacity of state higher education institutions, industry and stakeholders to develop a strategic plan to ensure ongoing semiconductor innovation and sustain Texas as a leader in semiconductor research, design and manufacturing, the bill states.
The fund will provide appropriations and grants to state entities and private businesses to encourage development, it said.
In the last two years, Texas recruited five semiconductor companies to invest billions of dollars in expanding semiconductor manufacturing capabilities. This includes Texas Instruments, which announced a potential $30 billion investment for four fabs in Sherman and Samsung with a $17 billion plant just north of Austin.
State Sen. Joan Huffman, R-Houston, and state Rep. Greg Bonnen, R-Friendswood, have filed companion Texas CHIPS Act legislation in their respective chambers.
“We have led in this sector before, now with the CHIPS Act, the investments the state is making will continue to grow,” Bonnen said.
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