Governor Abbott Announces Texas Semiconductor Innovation Fund Grant To Coherent

~ In a move to further solidify Texas' position as a leader in the semiconductor industry, Governor Greg Abbott announced today that Coherent Corp. has been awarded a grant of $14,076,031 from the Texas Semiconductor Innovation Fund (TSIF). This grant will be used to accelerate the production of Indium Phosphide (InP) wafers at Coherent's facility in Sherman, representing a capital investment of over $154 million.

Governor Abbott expressed his excitement about this investment, stating that "Texas is the new frontier for technological innovation." He believes that this significant investment by Coherent is a testament to Texas' leadership in semiconductor manufacturing and its commitment to developing the technologies of tomorrow. With a skilled and growing workforce and a business-friendly climate, Governor Abbott believes that Texas is where the future is being built.

The InP technology produced by Coherent's Sherman facility is crucial for next-generation photonics and high-speed connectivity solutions such as data communications, telecommunications, artificial intelligence (AI) interconnects, advanced sensing, and 6G wireless and satellite communications networks. By consolidating their North American semiconductor operations in Sherman and scaling InP wafer production, Coherent aims to streamline their activities and strengthen the U.S. supply chain for these advanced technologies.

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Beck Mason, Executive Vice President of Semiconductor Devices at Coherent Corp., expressed gratitude for receiving this grant from TSIF. He also acknowledged the support of Governor Abbott, the Texas Economic Development & Tourism Office, and the Texas Semiconductor Innovation Consortium Executive Committee. Mason stated that this grant will accelerate their plans to establish the world's first 6-inch Indium Phosphide wafer factory in Texas. He believes that this milestone will not only help them scale operations but also grow their workforce in Texas.

Representative Shelley Luther also praised this investment by Coherent Corp., stating that it positions Sherman as a hub for advanced photonics and AI technologies. She believes that with Texas leading the nation in semiconductor innovation, this investment will create a brighter future for families, the local workforce, and the global supply chain.

This grant is a result of Governor Abbott's signing of the Texas CHIPS Act in 2023, which established the Texas Semiconductor Innovation Fund (TSIF) and the Texas Semiconductor Innovation Consortium (TSIC). These programs, administered by the Texas CHIPS Office within the Governor's Texas Economic Development & Tourism Office, aim to leverage Texas' investments in the semiconductor industry and encourage companies to expand in the state. They also focus on developing expertise and capacity in Texas institutions of higher education to maintain the state's position as a leader in semiconductor manufacturing.

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With this significant investment from Coherent Corp., it is clear that Texas' efforts to promote and support semiconductor research, design, and manufacturing are paying off. The state continues to attract top companies like Coherent and solidify its position as a leader in technological innovation.

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