Taiwan-based LITEON Technology Corp. is investing nearly $1 billion in a new advanced manufacturing campus in McKinney. There, the company expects to create 600 jobs over the next several years as it expands its North American operations.
LITEON specializes in power management and optoelectronics and has been growing fast alongside the surge in semiconductor demand from AI infrastructure and other devices. It plans to spend $108.5 million of its total $919 million investment on acquiring factory buildings.
City leaders welcomed the project, which is one of the largest private investments in McKinney history.
“This is a significant economic development win for McKinney and a reflection of the choices we have made for years to invest in our people, our schools and our quality of life,” McKinney Mayor Bill Cox said in a statement announcing the expansion. He added that the company’s choice “speaks to the strength of our community and the opportunities we continue to create. We are proud to welcome LITEON to McKinney and look forward to the lasting impact this investment will have on our city.”
LITEON Technology Corp. is building an advanced manufacturing facility at the Core5 Logistics Center in McKinney. [Rendering: McKinney Economic Development Corporation]
Tech leadership in Texas
The new facility will take up 650,000 square feet of existing industrial space in a new industrial park, the Core5 Logistics Center. It’s the result of a collaboration among the City of McKinney, the McKinney Economic Development Corporation and the State of Texas. The state provided a $3.5 million Texas Enterprise Fund grant and a $100,000 Veteran Created Job Bonus as economic incentives.
“Texas is where the world invests and innovates,” Gov. Greg Abbott said in a separate announcement. He added that the “major expansion will create hundreds of good-paying jobs in McKinney and further strengthen Texas’ leadership in advanced electronics manufacturing, research and development.”
Per McKinney EDC, the new positions span across engineering, advanced manufacturing and corporate operations. This is only the latest corporate addition to the Collin County city. Globe Life, Encore Wire and RTX have all set down roots in McKinney, making it a hub for advanced manufacturing and technology employers.
The company expects to begin hiring for its McKinney location as it completes renovations. The McKinney EDC says positions will “open in phases” as renovations are underway.
In a company statement, LITEON Chairman Tom Soong said the new site “marks an important milestone in LITEON’s global growth strategy” by aligning regional and global resources across the company’s operations.
A win for McKinney
“LITEON is exactly the kind of global leader that will strengthen our position in advanced manufacturing, innovation, and next-generation technology,” said Michael Kowski, president and CEO of McKinney EDC. “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.”
This major investment from LITEON comes as McKinney continues to invest in economic development and quality of life initiatives. The city’s downtown area is home to 200 locally owned shops, galleries and restaurants. A $300 million amphitheater is slated to open next year. And a $200 million, 35-acre surf resort is under construction.
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