Sherman adopts updated zoning map on cusp of unprecedented growth

Published: Tue, 02/14/23

Sherman adopts updated zoning map on cusp of unprecedented growth

The fresh map comes as the North Texas city stands on the cusp of unprecedented growth.

Sherman Economic Development Corp. President Kent Sharp, Mayor David Plyler and City Manager Robby Hefton stroll the streets in a file photo. The city of Sherman has adopted an updated zoning map to guide growth as major manufacturers of semiconductor chips expand with massive projects in the city of about 45,000.
JAKE DEAN

Dallas Business Journal
By   –  Senior Reporter, Dallas Business Journal

As major manufacturers of semiconductor chips expand with massive projects in Sherman, the city has adopted an updated zoning map to position for surging growth.

The new map, approved by the Sherman City Council on Feb. 6 and put in effect immediately, reflects new zoning district classifications and zoning changes made in recent months to various properties. It replaces the city’s zoning map adopted on Feb. 7, 2022.

city ordinance adopted along with the revised map sets a penalty of up to $2,000 per day for anyone constructing any building that's not in conformity with the permissible uses under the map.

The updated map comes as the city stands on the cusp of unprecedented growth.

In 2021 and 2022, two major semiconductor manufacturers announced multibillion-dollar projects that position Sherman to become a hub for future tech development.

Between the two deals, the city of about 45,000 people on the shores of Lake Texoma has secured commitments of more than $35 billion in investment and the promise of thousands of jobs from corporations that make semiconductors.

In May 2022, Dallas-based Texas Instruments (Nasdaq: TI) broke ground on the first fabrication facility in what's expected to be a four-factory, $30 billion semiconductor manufacturing campus in Sherman. According to TI, the first fab aims to produce tens of thousands of 300-millimeter wafer semiconductor chips a day by 2025. Texas Instruments recently cranked up production in a similar factory in Richardson.

The top six incentives in the nation last year for firms in the manufacturing industry all topped $1 billion apiece in value.

Leading Site Selection’s summary of the biggest deals in 2022 was $5.8 billion in federal, state and local incentives that's been promised to Micron Technology for its commitment to invest up to $100 billion to build the largest semiconductor fabrication facility in the United States in Clay, New York. The facility will create up to 9,000 jobs at four semiconductor fabrication plants on a 1,300-acre site just north of Syracuse and support up to 40,000 additional jobs in local supply chain and construction industries.

Rivian, an electric vehicle manufacturer that considered Fort Worth before committing to locate in Georgia, was awarded incentives valued at $1.47 billion for the creation of 7,500 jobs and $5 billion in capital expenditure.

Last year, the U.S. government moved to boost the domestic chip-making industry through the CHIPS and Science Act. Signed by President Joe Biden in August, the law includes $52 billion in incentives.

Currently, most of the world's chips are produced in Asia, but the U.S. is trying to regain leadership in the industry to reduce reliance on global supply chains and national security risks. Other countries are also competing for giant chip makers and offering incentives for new factories, and Sherman faced intense competition from Singapore and other overseas suitors in the competition for the TI and GlobiTech facilities.

Nationwide, semiconductor manufacturers are gearing up plans to produce advanced chips at new complexes in states including Idaho, Ohio and New York, as well as Texas.

 


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