NXP Semiconductors plans to expand its chip factory in Texas with $2.6 billion
On May 11, NXP Semiconductors held a meeting with board members of the Austin Independent School District in Texas to discuss a $2.6 billion chip plant expansion and 800 jobs in exchange for tax cuts.
Jason Stanford, a spokesman for the Austin Independent School District, said a vote would be made within two weeks on whether NXP could continue to apply for the tax cut, known as the Section 313 agreement.
NXP spokesman Jacey Zuniga said that the company is also considering other cities as locations for expansion, and it is estimated that the final decision will be made in the fourth quarter of this year and construction will begin in 2024.
It is reported that NXP, which makes chips for automobiles, phones and industrial equipment, has four fabs in the United States, two of which are located in Austin.
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