LITEON Technology, a Taiwanese electronics manufacturer, is set to establish a new facility in McKinney, which is about 19 miles east of Little Elm. Texas Governor Greg Abbott announced that the project will involve an investment of nearly $919 million and is expected to create over 600 jobs throughout its duration.
The initial phase of the project includes a capital investment of $307 million and the creation of around 500 jobs. The facility will cover more than 650,000 square feet and will serve as LITEON's North American headquarters, focusing on the manufacturing of power systems essential for AI data centers.
The state has supported this initiative with a $3.5 million grant from the Texas Enterprise Fund and an additional $100,000 Veteran Created Job Bonus.
Founded in 1975, LITEON has evolved from its roots in LED technology to become a key player in the AI sector, with its AI-related revenue projected to grow significantly. The new facility in McKinney positions LITEON within North Texas, which boasts the highest number of planned data centers in the state, allowing for more efficient production of necessary power systems.
This investment marks one of the largest corporate commitments in McKinney's history, enhancing the city's economic landscape.
