Sherman Texas Scores $5 Billion Silicon Wafer Manufacturer

GlobiTech will establish a chip manufacturing facility is Sherman, the towns second breakthrough announcement in a year. Texas Instruments announced last November that it will build a $30 billion chip factory in the town of about 45,000, 20 miles north of Dallas.

The GlobiTech announcement is expected to add $5 billion to the local economy and create 1,500 new jobs for Sherman. The Sherman Economic Development Corp. assisted by offering $20 million in cash incentives and an additional $14 million in land deals. A Texas Enterprise Fund grant of $15 million has been extended to GlobiTech. The company also qualifies for a tax break from the local school district.

The new plant will manufacture silicon wafers, which are used in the production of semiconductors and other electronic components. “Advanced 300 millimeter silicon wafers are currently manufactured in Asia, forcing the U.S. semiconductor industry to rely on imported silicon wafers,” Globitech President Mark England said. “This will represent the first new silicon wafer facility in the U.S. in over two decades and close a critical semiconductor supply chain gap.”