An American company is planning to invest up to $1 billion for the expansion of its Clark and Baguio City facilities in the country, Malacañang announced. READ:
An American company is planning to invest up to $1 billion for the expansion of its Clark and Baguio City facilities in the country, Malacañang announced. American microprocessors manufacturer Texas Instruments Inc. is set to submit in two weeks an application covering the expansion of its Clark and Baguio City sites that may reach the $1 billion CREATE threshold.
According to the Palace, TI’s investment plans are in line with the CHIPS and Science Act of 2022 signed into law by US President Joe Biden last year, aimed at building and making historic investments that will poise US workers, communities, and businesses to win the race for the 21st century. Marcos welcomed TI’s investment plans, saying, “These areas and sectors in the economy that we would like to be involved in.”
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