Richardson vies for $3.2 billion Texas Instruments manufacturing plant through approval of tax incentive deal

A bid for Texas Instruments’ newest chip-manufacturing facility was advanced tonight when Richardson City Council members voted unanimously to amend an existing agreement that would reduce the company’s annual property-tax payments.

If the company chooses to expand its current Richardson facility, the city would reduce property taxes on the second phase of development within the designated “tax abatement reinvestment zone” at West Renner and Alma roads.

The agreement stipulates that property taxes would be abated for Phase 2 business personal property—a category that includes items such as computers, machinery or other movable goods—by 75 percent annually for up to 15 years.

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