About $1.6 billion will be given to Texas Instruments so they may construct three chip facilities in the United States

Texas Instruments said on Friday that it will get up to $1.6 billion in financing to construct three new facilities from the U.S. Commerce Department. This investment is part of the government’s ongoing effort to increase chip manufacture in the country.

The business plans to construct two plants in Texas and one in Utah with the assistance of financing provided by the CHIPS and USA Science Acts. Texas Instruments committed more than $18 billion for the projects, which are anticipated to generate 2,000 employment in manufacturing, until 2029.

Additionally, the chipmaker anticipates receiving $10 million in workforce development assistance and $6 billion to $8 billion in investment tax credits from the US Treasury Department.