February 24, 2024
AUSTIN – NXP Semiconductors NV is seeking more than $1 million in tax refunds from the state as the chipmaker plans to invest millions into its Austin facilities.
The city council nominated NXP USA Inc., a subsidiary of the Netherlands-based NXP, for the state’s Texas Enterprise Zone program.
NXP plans to spend $291 million to replace production lines at their 3949 Ed Bluestein Blvd. and 6501 W. William Cannon Dr. factories. The improvement plan includes the creation of 53 jobs.
If approved by the Texas Governor’s Office, the company would be eligible for up to $2,500 per job created or retained, with a total reimbursement of state sales and use tax of up to $1.25 million over five years.