Jaw-Dropping News: Companies Investing $48.1 Billion in New Factories in Texas

Joe Vranich — Sun, 28 Nov 2021 16:21:56 -0500

Economic development professionals in Texas will remember this November for a long time as the month saw announcements for three record-breaking, colossal construction projects. It’s fair to call them “Texas-sized.”

First, Texas Instruments (TI) said it will build a $30 billion semiconductor fabrication plant in Sherman, which is about midway between Dallas and the Oklahoma border (an area often referred to as Texoma).

Next, Samsung Electronics, Co., Ltd., announced that it will construct a $17 billion semiconductor manufacturing facility in Taylor, which is near Austin.

Also, Tesla just revealed that its Gigafactory in Austin – where construction and interior finishing work is underway – revealed that its cost is estimated at $1.1 billion.

The announcements totaling $48.1 billion were announced in only an eight-day period, which may be a record in the world of economic development. I can speak only for myself, but I don’t recall anything of this magnitude occurring in such a short time span in any state.

Read the rest of this piece at Spectrum Location Solutions.

Joe Vranich helps businesses make location decisions driven by growth, consolidation, market changes, or a need to relocate to places with more favorable business climates.