Sherman council members approve tax abatement for Texas Instruments

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SHERMAN, TEXAS -- Tonight, Sherman council members will host a second public hearing on a tax abatement for Texas Instruments.

Mayor Cary Wacker says TI is interested in storing up to $300 million dollars in equipment at their Sherman plant.

Two weeks ago, council approved a 5-year tax abatement for the company that would tax them at 55 percent of the normal tax rate as an economic incentive for TI.

Wacker says this abatement makes it more feasible for TI to bring the equipment here to Sherman.

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