Governor Abbott Announces Texas Semiconductor Innovation Fund Grant To LTD Material

~ In a move to further solidify Texas' position as a leader in the semiconductor industry, Governor Greg Abbott announced today that LTD Material LLC has been granted over $1 million from the Texas Semiconductor Innovation Fund (TSIF). This grant will support the construction of an 88,000-square-foot manufacturing and research facility in Austin, which is expected to create 40 new jobs and bring in more than $25 million in capital investment.

Governor Abbott expressed his excitement about the project, stating that "Texas leads America's resurgence in semiconductor manufacturing." He believes that this investment will not only expand the already robust supply chain in Texas but also accelerate domestic semiconductor production and reduce reliance on foreign suppliers.

LTD Material is known for its precision-engineered products that are essential to the wafer manufacturing process. The new facility will be built adjacent to their existing fabrication plant and will include state-of-the-art equipment for both manufacturing and research purposes. In addition, LTD Material plans to offer specialized training for technical roles such as CNC machinists and glass blowers, providing rewarding career opportunities without requiring a college degree.

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CEO Kevin Nguyen of LTD Material expressed his gratitude for the TSIF grant, stating that it will allow them to meet the increasing demand from U.S. semiconductor foundries while reducing dependence on foreign suppliers. He also highlighted how Texas' focus on innovation, workforce development, and economic competitiveness played a significant role in their decision to establish their headquarters in the state.

Senator Sarah Eckhardt also praised the project, stating that "Austin is the beating heart of our state's semiconductor industry." She believes that this investment will not only create good jobs but also sustain them for years to come. Senator Eckhardt also emphasized how this project aligns with Texas' goal of staying at the forefront of America's technological future.

The TSIF grant was made possible by Governor Abbott's signing of the Texas CHIPS Act into law back in 2023. This act established the Texas Semiconductor Innovation Fund and the Texas Semiconductor Innovation Consortium, both of which are administered by the Texas CHIPS Office within the Texas Economic Development & Tourism Office in the Office of the Governor. These programs aim to leverage Texas' investments in the semiconductor industry, encourage companies to expand in the state, develop expertise and capacity in higher education institutions, and maintain Texas' position as a leader in semiconductor manufacturing.

With this latest investment, it is clear that Texas is committed to maintaining its position as a leader in the semiconductor industry and driving innovation for years to come.

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