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On Thursday, September 21, the Austin City Council will vote on an incentive agreement to support a $291 million capital investment by longtime Austin chip company NXP Semiconductors to improve its facilities and increase domestic manufacturing capacity for the automotive and industrial markets, a national priority, right here in Austin. This investment, known as Project Live Oak, will help our city to continue to thrive as a global technology hub, creating jobs and helping the U.S. regain its leadership in global semiconductor manufacturing.
An endorsement by the City Council would allow NXP to pursue funding from the historic U.S. CHIPS Act, a potential once-in-a-generation opportunity that will help strengthen and expand U.S. semiconductor manufacturing. With the exciting possibilities the CHIPS Act has to offer, Project Live Oak will further validate Austin on the global stage as a leader in semiconductor and advanced manufacturing. I urge our city leaders to support this investment in our people and our future.
Our city—and world—is on an exciting journey of transformation. As we look toward the future, whether it’s the revolution underway in electric transportation or working in increasingly connected cities like Austin, it’s clear that the role semiconductors play in society and our everyday lives has never been more important.
If this investment is approved, NXP will improve and modernize its two local manufacturing sites in Oak Hill and East Austin. NXP would also seek to partner with local businesses for ongoing and future facility design, engineering and construction requirements. Importantly, NXP will partner with the City of Austin to develop new or improved workforce training for its future employees.
The importance of our region’s talent pipeline cannot be overstated. It is the lifeblood that makes Central Texas attractive to companies looking to create opportunity. We have over 400,000 university and college students in a 100-mile radius, and students choose to remain in the area after graduation at a high rate. This project will be a game changer as we work to build resiliency and provide opportunities for future generations.
NXP has been deeply committed to Austin for nearly 50 years and is the type of corporate citizen we should all hope to attract, retain and celebrate. With the recent passage of the U.S. CHIPS Act, NXP has again demonstrated why it holds a special place in Austin’s economic history. The company is currently engaged with the University of Texas, other regional universities and industry partners to advance a proposal for the Texas Institute for Electronics, which would prepare the next generation of graduates for careers in the semiconductor industry. NXP is also a committed partner to Austin Community College, helping to fund scholarships and advance engineering education to meet the evolving needs of our workforce.
Our business and political ecosystems need companies that build strong relationships within our community and who continue to invest and innovate to create opportunities for future generations. NXP is a shining example of a contributor that has helped Austin’s economy become more diverse, vibrant, resilient and forward-looking—and they should be applauded for their contributions.
We have already seen the effect of the billions of dollars of economic impact that NXP has had in Texas. The thousands of local jobs NXP has created mean more to our community than just numbers on the bottom line. They represent a diverse group of individuals who can provide for their families, enjoy their city and work towards a better future.
The Austin City Council is responsible for making decisions in the best interest of their constituents and our city. Project Live Oak exceeds local requirements and could be an inaugural recipient of CHIPS Act funding, further positioning the Austin region as a leader in the semiconductor industry. We urge the Council to approve this investment, which will strengthen our economy and provide Austinites with opportunities for years to come.
Farmer is the chairman and interim CEO of Opportunity Austin
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