Sherman finalist for Texas Instruments manufacturing plant

The school board unanimously approved the application for the plant at their meeting on Tuesday.
The school board unanimously approved the application for the plant at their meeting on Tuesday.
Published: Aug. 31, 2021 at 10:29 PM CDT
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SHERMAN, Texas (KXII) - Sherman is a finalist to be the location of a new Texas Instruments manufacturing plant.

The school board unanimously approved the application for the plant at their meeting on Tuesday.

The board has hired a consulting firm that will review the application and submit it to the Texas Comptroller’s Office.

“This will be the first step in the process of putting together a package for TI to submit so we can be considered for locating one of their manufacturing plants here,” said Sherman Mayor David Plyler.

If approved Plyler said the company would receive a cut on their property taxes with the hopes of enticing them to bring the plant to Sherman.

Plyler said if the school district, the city, Grayson College and Grayson County approve the sales tax the plant would bring in with all the new people and all business that comes with that would more than make up for the decrease property tax rate they’d be paying.

The plant could bring in 800 to 1,000 jobs with the opportunity for more later. That’s more than the current facility employs right now.

“Sales tax receipts will be off the charts, a lot of new folks moving in. We’re also going to be recognized internationally, we’re being highly considered for this new facility,” Plyler said.

Plyler said the move would help expand Sherman’s “representation as a high tech manufacturer.”

“This will also bring suppliers for T.I. to Sherman and other businesses that support their operation and this is going to lead to exponential growth over the next five to ten years and probably longer,” Plyler said.

Plyler said the trade off for a lower property tax rate would be “more than made up for.”

“Plus the new job for our people--they’ll higher security guards, cafeteria workers, janitors, engineers,” Plyler said. “There’s a plethora of people that it takes to run a facility like that and that opens up opportunities for all of our systems.”

This new plant would make TI the largest employer, and tax payer in the city.

The company announced last year they would be closing the preexisting Sherman plant between 2023 and 2025.

This project is for an entirely separate property than that facility.

An answer from T.I. could come as soon as the end of this year.

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