U.S. Senator John Cornyn (R-TX) released a statement today following the announcement from the U.S. Department of Commerce and GlobalWafers America regarding a preliminary memorandum of terms (PMT) for up to $400 million in direct funding under the CHIPS and Science Act. This funding aims to support semiconductor manufacturing at GlobalWafers' silicon wafer factory in Sherman, Texas.
Senator Cornyn emphasized the importance of this investment in securing the supply chain, enhancing national security, and creating jobs in Texas. “By investing in leading-edge semiconductor manufacturing, we are helping secure this vulnerable supply chain, boosting our national security and global competitiveness, and creating new jobs for Texans,” said Sen. Cornyn. “The silicon wafer production capabilities these resources will enable at GlobalWafers in Sherman will help the U.S. reclaim its leadership role in the critically important semiconductor industry, and I look forward to seeing more Texas-led advancements in the years to come.”
Senator Cornyn authored the CHIPS for America Act to restore semiconductor manufacturing in the U.S. by increasing federal support for advanced chip manufacturing, research and development, and securing the supply chain. The CHIPS for America Act was included in the National Defense Authorization Act for Fiscal Year 2021 and became law on January 1, 2021. The CHIPS and Science Act, signed into law in 2022, provides $52 billion in financial assistance to expand domestic semiconductor facilities and support research, workforce expansion, and the Department of Defense.
GlobalWafers announced a $5 billion project in 2022 to advance semiconductor manufacturing in Sherman, Texas, by establishing the first 300mm silicon wafer facility in the nation. The proposed funding will expand their Sherman facility, establish a new silicon-on-insulator wafer facility in St. Peters, Missouri, and create over 1,500 construction jobs and nearly 900 manufacturing jobs in the U.S. In February, Senator Cornyn visited Sherman High School to discuss the semiconductor fabs and highlight local workforce training efforts.
In June 2023, Governor Abbott signed the Texas CHIPS Act into law to complement federal legislation and strengthen Texas’ position in the semiconductor industry.