In Texas, the growing semiconductor industry exists as a display of our state’s economic strength, technological innovation and commitment to national security. The Texas Association of Business’ 2023 Policy Conference brought to light the profound importance of continuing to bolster this industry, with key insights from influential speakers emphasizing the critical role semiconductors play in shaping Texas’ future.
Adriana Cruz, the Executive Director of Texas Economic Development & Tourism, affirmed the significance of the semiconductor industry, stating, "Texas is truly the birthplace of the integrated circuit, and the semiconductor industry for our state is incredibly important… there are 15 semiconductor manufacturers in the state right now… 43,000 Texans are employed by the semiconductor industry.”
It is evident that this industry is a catalyst for job creation and overall economic prosperity. Strengthening this sector promises to further boost employment opportunities as Texas’ population continues to grow, which would lead to an even more successful economy.
Although our state is traditionally associated with industries such as oil and gas, investing in developing sectors, specifically semiconductors, would make Texas more resilient to economic fluctuations and global market shifts. Recent disruptions in the semiconductor supply chain as seen during the pandemic underscore the importance of strengthening Texas' semiconductor industry to ensure a resilient and robust supply chain, reducing dependency on foreign sources.
The speakers also underlined the national security implications intertwined with the semiconductor industry. This industry plays a pivotal role in various national defense systems, communication networks and critical infrastructure, further emphasizing the need for a reliable domestic supply. With an environment already primed for an increase in semiconductor manufacturing, Texas has an opportunity to take the stage as a national and global leader in an industry that is fully integrated and essential to citizens’ daily lives.
"The good news is for the state of Texas, we got great universities, two of the highest producing engineering schools in the country,” said John Schreck, CEO of the Texas Institute for Electronics. “We've got an environment of innovation; a lot of startups and we have a great base of semiconductors. So, to me, the future's bright."