Texas Instruments says it is investing $18 billion on the plants in Texas and Utah.

The chipmaker is planning a $525-million expansion of its manufacturing plant as well a conversion to majority U.S. ownership. 

The funding agreement with the U.S. Commerce Dept. was contingent on the company's recently announced pledge to invest $50 billion in the plants over the next five years.

The semiconductor manufacturer also announced plans to build a third fab in Phoenix.

The award is the largest to be offered under the CHIPS and Science Act program, Commerce Secretary Gina Raimondo said.

Most of President Joe Biden’s March 7 speech to a joint session of Congress centered on domestic issues, but he also announced one construction-related overseas action.  

The U.S. Dept. of Commerce has $39 billion from the CHIPS and Science Act available to incentivize construction of semiconductor chip plants.

The CHIPS and Science Act money would go toward work to expand a New York chip plant and build another nearby, and to modernize a plant in Vermont.

The state funds are earmarked for construction at the Albany NanoTech Complex and purchase of advanced equipment for semiconductor chip research and development.

The Commerce Dept. has received hundreds of statements of interest for CHIPS and Science Act funds for chip plant construction.