Silicon wafer production site to get$34.4M in SEDCO incentives
14 Jun 2022
News and Media
6/14/2022 (Michael Hutchins, Herald Democrat)
The Sherman Economic Development Corporation became the first organization to say “yes” to a proposed $5 billion silicon wafer production site Tuesday. The SEDCO Board voted unanimously to approve more than $20 million in cash incentives and more than $14 million in land conveyance for GlobalWafers which is the parent company of Globitech.
The incentive package comes after Sherman was chosen as one of three possible locations for the new production hub alongside South Korea and Ohio.
“If Sherman is selected, this will be the first 300 millimeter wafer facility to be built in the United States in the last 20 years,” SEDCO President Kent Sharp said regarding the GlobalWafers project. “It represents a very strategic and important investment for our city, county state and country. Therefore, the leadership team in Sherman and Grayson County put maximum effort into development the most competitive proposal we could in order to place Sherman ahead of South Korea and Ohio.”
Globitech indirectly announced its plans to potentially expand its operations in Sherman in April when it submitted an application for incentives under Texas Tax Code Chapter 313 with the Sherman Independent School District. If approved, the Chapter 313 agreement would place a limit on the appraised value of the company’s property for 10 years for the purposes of determining property taxes owed to the district.
The new production plant would manufacture 300 millimeter silicon wafers, which are used in the production of semiconductors and other electronic components. These chips are then used in a myriad of products ranging from motor vehicles to home electronics, among other uses.