Breaking News
More () »

NXP incentives applications show potential Austin expansion project details

The company already has two locations in the city and is looking to potentially expand in the area.

AUSTIN, Texas — Semiconductor production company NXP is one of the latest planning a potential expansion in Central Texas, with new details recently made public in incentives applications. 

According to a report from the Austin Business Journal (ABJ), NXP submitted two such applications, proposing to renovate or expand fabrication space at one of its two Austin campuses, a 153-acre site in southwest Austin and a 78-acre site in far East Austin. 

NXP is asking for Chapter 313 incentives, which allow businesses to cap property value for a portion of school taxes for manufacturing and energy projects for 10 years, per the report. The ABJ said company officials indicated "it is unlikely" that both projects will proceed. 

In May, the Austin ISD school board voted to move forward with NXP's applications. The approval began negotiations with the district and the board would need to vote to accept a final incentive agreement. An NXP representative told the ABJ that the discussions are still in the early phases. 

RELATED: Austin ISD moves forward with process to potentially approve tax break for chip maker NXP to expand facilities

The application for expansion in far East Austin shows that NXP could invest nearly $2.7 billion in its facility to build a four-story "semiconductor wafer fabrication building" of about 520,000 square feet. That expansion also includes plans for a 47,000-square-foot plant to support manufacturing along with plans for administrative office space and parking.

The ABJ said that if the incentive application is approved, NXP could save more than $140 million in taxes over 10 years. 

If the company's southwest Austin campus is selected, the project would expand two buildings and purchase new equipment. Under this plan, ABJ said NXP would save $23 million in taxes over 10 years. 

Read the full report by the Austin Business Journal on the outlet's website.

KVUE on social media: Facebook | Twitter | Instagram | YouTube


'I thought that somebody had my baby.' Austin mom warns others of elaborate kidnapping scam

Austin woman suspected of killing cyclist captured by authorities in Costa Rica

Riata residents fed up with management after months of people camping outside, trespassing

Before You Leave, Check This Out