Austin News

U.S. Sen. Ted Cruz recently spoke at a press conference at Southern Methodist University’s Tech Hub in Dallas, Texas, addressing the urgent need to enhance investment, jobs, and opportunity in North Texas. The Tech Hub designation aims to boost semiconductor manufacturing in the United States, with SMU leading the federally funded economic development initiative.

During the press conference, Sen. Cruz emphasized the importance of bolstering semiconductor manufacturing in the U.S., stating, “America has fallen behind where we need to be when it comes to advanced semiconductors.” He highlighted the risks posed by the country's dependence on foreign manufacturing for advanced semiconductors, citing national security and economic vitality concerns. Sen. Cruz stressed the significance of domestic semiconductor production, which is crucial for a wide range of devices, from consumer electronics to military equipment.

Sen. Cruz also discussed the CHIPS NEPA legislation, which aims to expedite and streamline Federal environmental reviews for semiconductor fabrication facilities. He underscored the need to reduce regulatory hurdles facing the semiconductor industry to foster growth and innovation.

Regarding the economic impact of semiconductor manufacturing in Texas, Sen. Cruz noted, “Just in the last three years in the State of Texas, we have seen over $61 billion in direct investment [and] about 8,000 new jobs.” He projected significant job growth in the semiconductor industry in North Texas and throughout the state in the coming years, emphasizing the importance of enhancing investment and job opportunities.

Furthermore, Sen. Cruz highlighted bipartisan efforts with Sen. Mark Kelly to address regulatory barriers in semiconductor manufacturing, leading to the passage of legislation in the Senate with overwhelming support. He emphasized the bipartisan coalition's success in advancing legislation to enhance investment and job growth, urging industry and local leaders to prioritize these initiatives.

Sen. Cruz's advocacy for American innovation is evident through his efforts to streamline the chips permitting reform process, enact historic tax reform, and champion legislation supporting Texas innovators. His dedication to promoting business growth and innovation has earned him recognition, including the U.S. Chamber of Commerce’s “Spirit of Enterprise” award.

In conclusion, Sen. Cruz's commitment to enhancing investment, job opportunities, and innovation in North Texas underscores the importance of supporting domestic semiconductor manufacturing and fostering economic growth in the region.