PHARR, Texas - Governor Greg Abbott has announced that a Texas Semiconductor Innovation Fund (TSIF) grant of $4,830,000 has been extended to Avant Technology, Inc. for an expansion of their manufacturing facility in Pharr.
The facility is expected to create 250 jobs and represents more than $20 million in capital investment.
Pharr Economic Development Corporation President & CEO Victor Perez teased the announcement in an interview with the RGG Business Journal a month or so back. Now, that Gov. Abbott has made the grant funding announcement, he is able to talk about it publicly.
In a new interview he spoke about Avant’s major expansion in Pharr, plus the importance of a panel discussion he participated in as part of RGV StartUp Week.
Perez said: “We've been working with Avant for a while. Having this huge company in Pharr, one that is going to be employing about 250 individuals in high paying jobs is very key to us, not only for the City of Pharr but also for the region. We’re really happy and honored that Avant got this kind of funding. What is it, $4.8 million to be able to continue their expansion in the City of Pharr and to be able to create this facility for these high-paying jobs? It is huge.”
“Texas is the nation's magnet for advanced manufacturing,” said Governor Abbott. “This expansion by Avant Technology in Pharr will generate hundreds of new high-skilled jobs in the Rio Grande Valley and create new opportunities for hands-on training for the workforce of tomorrow. Working together with industry leaders, Texas will continue to lead the nation in semiconductor manufacturing and innovation.
Governor Abbott signed the Texas CHIPS Act into law in 2023 to establish the Texas Semiconductor Innovation Fund (TSIF), a grant program to continue Texas’ leadership in semiconductor research, design, and manufacturing, as well as the Texas Semiconductor Innovation Consortium (TSIC).
These programs, administered by the Texas CHIPS Office, a division within the Texas Economic Development & Tourism Office in the Office of the Governor, are designed to leverage Texas’ investments in the semiconductor industry, encourage semiconductor-related companies to expand in the state, further develop the expertise and capacity of Texas institutions of higher education, and maintain the state’s position as the nation’s leader in semiconductor manufacturing.
Headquartered in Pflugerville, Avant Technology specializes in the design and advanced manufacturing of semiconductor assemblies known as solid-state drives (SSDs) and memory modules. The company is expanding its operations in Pharr to produce more complex semiconductor assemblies tailored for the enterprise, automotive, and industrial markets.
Avant is also partnering with South Texas College to include hands-on access to equipment so students can gain real-world experience in semiconductor electronics assembly, quality control, and advanced manufacturing skills.
"We are profoundly grateful to Governor Abbott and the Texas Semiconductor Innovation Consortium for this pivotal grant, fueling Avant Technology's expansion in Pharr with new construction and state-of-the-art machinery,” said Avant Technology CEO and President Tim Peddecord.
“This support advances our cutting-edge memory technology, creates high-skilled jobs, and solidifies Texas as the premier hub for semiconductor innovation and growth. We're excited to deepen our collaboration for a brighter future in South Texas."
Pharr EDC’s Perez was asked if the semiconductor industry was one Pharr was keen to attract, He responded:
“Absolutely. We’re doing great with the produce. We're doing warehousing, cold storage, dry storage. But now, with all the near-shoring we are hearing about, we started thinking, we need to focus now on the industrial part. We need to focus on manufacturing. Those are the higher-paying jobs. Those are the companies that come in here and employ hundreds and hundreds of people. Not only that. They bring other businesses, their suppliers. And so it's really a huge industry, and it creates a huge impact for the whole region.”
Asked if he would like to give a shout-out to Gov. Abbott, Perez said:
“I want to thank the Governor and his office and everyone that works under him. The governor has done a great job in promoting economic development. It really, really helps when you have the governor's support.”
Perez was on a panel with Valerie Segovia from the Texas Economic Development Corporation at RGV StartUp Week in Brownsville last week. He thanked Segovia and everyone at TEDC for their support in bringing manufacturing to Pharr.
