SALT LAKE CITY — In what leaders say is the “largest private economic investment in Utah history,” Texas Instruments is set to invest $11 billion in an expansion of its Lehi facility.
“This is not something that is going to benefit us for a year or two – this is going to benefit us for years to come,” Cox said in the announcement.
Texas Instruments has been in Lehi for the last 14 months and the investment will build a new 300-millimeter semiconductor wafer fabrication plant (fab) as an extension of its existing facility.
“Companies like Texas Instruments continue to invest in Utah because of our world-class business climate and exceptional workforce,” said Cox. “TI’s new semiconductor factory will solidify Utah as a global semiconductor manufacturing hub for generations to come.”
Utah was not the only choice for the TI expansion and Cox explained that the fact that Lehi was chosen “matters.”
Haviv Ilan, soon-to-be president and CEO of Texas Instruments, said that even though the team in Lehi is relatively new, it’s quickly become a “crowd favorite.”
“The team here has shown us everything about innovation, raising the bar, finding solutions…we are very impressed,” he said.
In addition to a new facility, the expansion will bring about 800 new TI jobs to Lehi, with salaries averaging $110,000.
TI will also invest $9 million in the Alpine School District to “improve student opportunities and outcomes,” a release from the company reads.
“This investment is part of a long-term strategy to build manufacturing capacity,” Ilan said, “Providing our customers with the chips they will need for decades to come.”
TI manufactures, designs, tests and sells embedded processing chips that are used in various technology and industrial markets.
Cox said in the announcement that, “if there’s anything you have that turns on and off, there’s a very good chance there’s a TI chip in there.”
Construction on the new facility will begin soon and will take about three to four years to complete.