Sherman strengthens ties with Texas InstrumentsSherman strengthens ties with Texas Instrumentshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=73922013-05-28T13:35:00Z2013-05-15T00:00:00Z

SHERMAN - The Sherman Economic Development Corp. has approved a $950,000 incentive agreement with the local Texas Instruments facility for the planned installation of $18 million in production equipment over the next two years.

The agreement calls for SEDCO to make three payments to TI, on January 1, 2014, January 1, 2015 and October 1, 2015. The first payment will be for $275,500 upon proof that $5.22 million in new equipment has been installed in the Sherman facility.

The January 1, 2015, payment will be for $456,000 once an additional $8.64 million in equipment has been installed and the final payment of $218,500 will be delivered following verification of the full $18 million of installed equipment. No new jobs will be created with the incentive agreement.

Read more at the Sherman Economic Development Corporation.

Sherman Economic Development Corporation
http://www.sedco.org/civicalerts.aspxRead more at {Source}

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