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Texas Instruments is the latest recipient<\/a> of CHIPS Act funds<\/a>. The 2022 law, signed by President Biden to boost domestic silicon production<\/a> in the face of increasing Chinese chip imports, will award TI $1.6 billion in grants. The company will also receive $3 billion in loans and tax credits that could amount to $6 to $8 billion.<\/p>\n The effort is expected to create over 2,000 US manufacturing jobs at Texas Instruments\u2019 new plants and \u201cthousands of indirect jobs\u201d for construction, suppliers and supporting industries. TI says it expects to receive another $10 million to fund workforce development.<\/p>\n TI\u2019s grant money will go towards three chip fabs already under construction in Texas and Utah. The plants will produce 300mm silicon wafer chips under the bill\u2019s $2 billion minimum set aside for legacy chips. The CHIPS Act primarily focuses on cutting-edge silicon, like those increasingly used for AI<\/a>. TI\u2019s production will go towards less advanced processors for things like smartphones, appliances and national defense. GlobalFoundries was awarded $1.5 billion for legacy silicon production<\/a> in February. With Friday\u2019s awarding of funds for TI, the government has now met its minimum quota for legacy chips.<\/p>\n Bloomberg<\/em> notes<\/a> that China has recently boosted its investments in legacy chips. Along with creating US jobs, the CHIPS Act was designed to curtail China\u2019s influence as silicon becomes more of an essential global resource. Other recipients include Intel ($8.5 billion)<\/a>, TSMC ($6.6 billion)<\/a> and Samsung ($6.4 billion)<\/a>.<\/p>\n Texas Instruments said it will spend around $40 billion in Utah and Texas, including two more factories in Sherman, TX. However, those aren\u2019t expected to be operational until after 2030. For the CHIPS Act, the Commerce Department prioritizes projects that can be completed by the decade\u2019s end, leaving those delayed plants without federal funding.<\/p>\n The $280 billion CHIPS Act passed in 2022 with 64 votes in the Senate and 243 in the House. The bill included $39 billion in subsidies for domestic chip manufacturing, 25 percent tax credits for manufacturing costs and $13 billion for workforce training.<\/p>\n