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Texas: Governor Abbott Announces LITEON Expansion In McKinney

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~ McKinney, Texas - Governor Greg Abbott has announced that Lite-On, Inc. (LITEON) will be establishing a new North American headquarters for its advanced manufacturing facility in McKinney. This move is expected to bring in a capital investment of $307 million and create 500 jobs. The company has been extended a Texas Enterprise Fund (TEF) grant of $3.5 million and a $100,000 Veteran Created Job Bonus.

Governor Abbott expressed his excitement about the company's decision to choose Texas as their new home for the advanced manufacturing facility. He stated, "Texas is where the world invests and innovates." He also congratulated LITEON on their expansion and believes that this move will further strengthen Texas' leadership in advanced electronics manufacturing, research, and development.

The new LITEON facility will focus on designing and manufacturing AI power and infrastructure-related solutions. The total investment by LITEON in the McKinney facility is expected to reach $919 million and create over 600 jobs over the course of the project.

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Chairman of LITEON, Tom Soong, shared his enthusiasm about this historic milestone for the company. He stated, "McKinney is a community that shares our values of hard work, innovation, and opportunity." Soong also expressed his gratitude towards the State of Texas and the City of McKinney for their support in making this investment possible.

Senator Angela Paxton also praised LITEON's decision to establish their North American headquarters in McKinney. She believes that this move will not only create 500 high-quality jobs but also generate significant capital investment for Collin County and further establish Texas as a leader in advanced technology and reshored manufacturing.

Representative Jeff Leach echoed similar sentiments stating that LITEON's decision to invest in McKinney is a testament to the city's skilled workforce, pro-business climate, and promising future. Mayor Bill Cox also expressed his excitement about the company's decision, stating that McKinney offers the perfect combination of a skilled workforce, infrastructure, and exceptional quality of life for global companies to thrive.

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Michael Kowski, President & CEO of McKinney Economic Development Corporation, believes that LITEON's investment in the community will strengthen their position in advanced manufacturing, innovation, and next-generation technology. He stated, "Their decision to invest in our community sends a clear signal to companies everywhere that McKinney is a serious destination for the industries shaping the future."

The Texas Enterprise Fund (TEF) grant awarded to LITEON is a performance-based grant administered by the Texas Economic Development & Tourism Office within the Office of the Governor. It is awarded to businesses relocating or expanding in Texas and competing with out-of-state locations. The aim is to create new, high-paying jobs and attract significant capital investment to the state.

With this major investment from LITEON, McKinney is set to become a hub for advanced manufacturing and technology. The city's fast-growing and dynamic community has proven to be an attractive destination for global companies like LITEON. This move not only creates new opportunities for residents but also reinforces McKinney's position as a premier destination for business.

Filed Under: Government, State
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