SEDCO approves $2.94 million incentive for Coherent
15 May 2024
News and Media
5/15/2024 (Michael Hutchins, Herald Democrat)
The Sherman Economic Development Corp. agreed Tuesday to assist Coherent in expanding the production capacity of its Sherman facilities. The SEDCO Board of Directors voted to approve a $2.94 million incentive package for the tech producer during its monthly board meeting.
Coherent is the parent company of Finisar, which is known for producing vertical-cavity surface-emitting laser technology, among other technology, at its Sherman facilities. This technology is used in Apple iPhone and other devices.
Coherent is often referred to as a part of the “big three” tech companies, alongside Texas Instruments and GlobalWafers, that make up the core of Sherman’s tech industry. Representatives for SEDCO said the company is currently moving forward with the first two phases in a four-phase project that will see production from other facilities consolidated into the Sherman location.
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