AUSTIN (KXAN) — One chipmaking company is looking to expand its footprint in Austin.

NXP Semiconductors, a Dutch company, presented a proposal to the Austin ISD Board of Trustees Tuesday night, seeking tax incentives to expand its existing Austin facilities.

According to the company’s presentation, NXP already has two manufacturing centers in the city that employ several thousand people.

NXP’s proposed project would invest $2.6 billion in Austin and create up to 800 additional jobs.

The company said if AISD approves the Chapter 313 agreement, it would potentially keep $67.2 million out of state recapture.

The Texas Tribune explained in 2019 that recapture, also known as Robin Hood, allows the state to take money from districts with higher property values within their bounds and give it to poorer districts that can’t raise much funding.

“Should this project come to Austin, while the 750 to 800 direct new jobs with health care and full benefits are wonderful, there’s also ancillary benefits during a construction phase and tertiary job creation in the community that has a multiplier effect that is far above other industries,” said Tony Schum with Kroll, which helped with NXP’s presentation to board members Tuesday night.

“For every one job NXP would create, there would be x number of other jobs created in the community,” he continued.

NXP’s plan was only discussed Tuesday night; AISD’s school board will meet again to decide whether to approve the tax break.

Semiconductor chips are embedded in technology we use every day — from cars to phones to medical devices. Recent global shortages of semiconductor chips have made supply chain issues worse for consumers.

You can read the full project presentation through Austin ISD board agenda documents online.

KXAN’s Ricky Garcia contributed to this report.