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Sherman adopts updated zoning map on cusp of unprecedented growth - Dallas Business Journal

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Between two deals in 2021 and 2022, the city of about 45,000 people on the shores of Lake Texoma has secured commitments of more than $35 billion in investment and the promise of thousands of jobs from corporations that make semiconductors.

The Texas Enterprise Fund contributed a $15 million grant for the GlobiTech project, and

the Sherman Economic Development Corp. offered $20 million in cash payments plus the sale of roughly 150 acres of land valued at more than $14 million. In addition, the city of Sherman, Grayson County and Grayson College all offered tax incentives, plus the city threw in a deep discount on water bills for the water-intensive industry.

While the economic incentives offered to GlobiTech amount to relatively big money by Texas standards, they’re pocket change compared to incentives used to lure other manufacturing industry moves and expansions nationwide, according to the The top six incentives in the nation last year for firms in the manufacturing industry allLeading Site Selection’s summary of the biggest deals in 2022 was $5.

Nationwide, semiconductor manufacturers are gearing up plans to produce advanced chips at new complexes in states including Idaho, Ohio and New York, as well as Texas.

 

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