Texas Instruments will delay Plano ISD payments until 2025

The Texas Instruments property is within Richardson city limits but also within Plano ISD boundaries. The district approved an updated version of a previous payment agreement with the company Nov. 5. (Liesbeth Powers/Community Impact Newspaper)
The Texas Instruments property is within Richardson city limits but also within Plano ISD boundaries. The district approved an updated version of a previous payment agreement with the company Nov. 5. (Liesbeth Powers/Community Impact Newspaper)

The Texas Instruments property is within Richardson city limits but also within Plano ISD boundaries. The district approved an updated version of a previous payment agreement with the company Nov. 5. (Liesbeth Powers/Community Impact Newspaper)

An agreement that delays the start of Texas Instruments’ $2 million annual supplemental payments to Plano ISD until 2025 was approved at the Nov. 5 PISD board of trustees meeting.

The amended and restated document that the district voted on was originally filed in May, according to a statement by Texas Instruments on Nov. 5.

“Our plans remain the same: we anticipate starting construction in the next few years,” the statement said. “Exact timing of factory construction, tool installation and the addition of several hundred jobs to support the new factory will be influenced by market demand and other factors.”

The agreement does not explicitly mean that construction will be delayed until 2025, as it could happen sooner or later, depending on market demand and other factors, the statement also said.

PISD trustees voted earlier this year to enter into a 10-year tax agreement with Texas Instruments for the company’s manufacturing facility expansion project. The company has proposed over $3 billion in investments for the expansion project, as previously reported by Community Impact Newspaper. The proposed 864,000-square-foot expansion will include a chip-manufacturing facility and a parking garage.


The agreement limits the taxable value of the expansion project to $100 million per year for 10 years. In that time, the company would send $2 million per year to PISD, according to district documents.

Trustees voted 6-0 to approve the amended and restated agreement, with trustee Tammy Richards abstaining.

Texas Instruments also reached an agreement with the city of Richardson earlier this year for reduced annual property tax payments during its second phase of development. Richardson will also uphold a piece of an original deal with the company that reduces Texas Instruments’ real property taxes—or taxes levied on real estate—by 75 percent annually over a 10-year period, as previously reported by Community Impact Newspaper.
By Liesbeth Powers
Liesbeth graduated from Baylor University with a degree in new media journalism in December 2018. She gained her newspaper experience as a staff writer and multimedia editor at her campus paper, The Baylor Lariat. Liesbeth joined the Community Impact team in August 2019, where she reports on all things Plano, including education and transportation.


MOST RECENT

Velvet Taco is planning to open in the fall on Park Boulevard in Plano. (Courtesy Velvet Taco)
Velvet Taco plans fall opening on Park Boulevard in Plano

The restaurant chain serves more than 20 varieties of taco with a variety of international influences.

The aging room is being prepared for business at the new downtown butcher shop. (Courtesy Bar-Ranch Steak Co.)
Bar-Ranch Steak Co. preps for downtown Plano opening and more DFW-area news

Read the latest business and community news from the Dallas-Fort Worth area.

trail sign with map
Learn more about Frisco's Taychas Trail and its future connection to Plano

Frisco will offer a preview of its connection to the Six-Cities Trail through Plano during the Roll with the Council event Aug. 15.

(Courtesy AMC Theatres)
AMC Theatres to reopen Aug. 20 with 15-cent tickets

AMC Theatres—which has multiple locations in the Austin, Dallas-Fort Worth and Houston areas—will begin reopening its movie screens Aug. 20.

The aging room is being prepared for business at the new downtown butcher shop. (Courtesy Bar-Ranch Steak Co.)
Bar-Ranch Steak Co. prepares for opening in downtown Plano

The butcher shop will offer a variety of aged steaks for sale, as well as beer and wine pairings.

Signs in the window of the Stein Mart store in Frisco state it will be among the locations closing as part of the company's liquidation process. (Valerie Wigglesworth/Community Impact Newspaper)
Stein Mart Inc. files for bankruptcy, launches store closing process

Stein Mart Inc. has 281 stores in 30 states with locations in Frisco, Plano, McKinney, Keller, Fort Worth and Flower Mound.

According to the report, 380,174 total COVID-19 cases have been reported in children nationwide as of Aug. 6, which accounts for approximately 9.1% of all confirmed COVID-19 cases in the U.S. (Courtesy Adobe Stock)
REPORT: COVID-19 cases in children increase by 90% nationwide in 1 month

As school district officials across the U.S. prepare for the start of the 2020-21 school year, 179,990 new COVID-19 cases were reported in children nationwide between July 9 and Aug. 6—an increase of 90%, according to a report compiled by The American Academy of Pediatrics and the Children's Hospital Association.

The University of Texas will host football games at Darrell K. Royal Veterans Memorial Stadium this fall after an announcement from the Big 12 Conference on Aug. 12 that the fall sports season will continue. (Jack Flagler/Community Impact Newspaper)
After Big Ten and PAC-12 cancel, Big 12 announces fall sports season will roll on

The conference football season will begin Sept. 26, and fan capacity in stadiums will be up to each of the 10 member universities, according to the Big 12.

In a record vote, commissioners unanimously voted in favor of proposing a no-new-revenue tax rate at an Aug. 11 workshop. (Screenshot via Collin County)
Collin County commissioners propose lower no-new-revenue tax rate for FY 2020-21

The proposed no-new-revenue tax rate is a nearly 1.4% decrease from the current tax rate.

The city of Plano has committed to a tax rate of no higher than $0.4482 per $100 in appraised value. (Courtesy Fotolia)
Plano commits not to raise property tax rate as city faces tight budget season

The city of Plano has committed not to raise its property tax rate as it deals with an uncertain financial future.

54th Street Grill opened in McKinney in August. (Courtesy 54th Street Grill)
54th Street Grill opens in McKinney and more DFW-area news

Read the latest community and business news from the DFW area.

The changes to the plans for Beacon Square were voted down, including nine additional live-work units, which can be used for commercial or residential uses. (Rendering from city of Plano presentation)
City of Plano rejects plan for reduced retail at Beacon Square development

The rejected changes included additional live-work units in place of some of the retail stores that had been featured in the original plans.