Onsemi, a semiconductor designer, manufacturer and supplier based in Arizona, will move its Dallas-Fort Worth design center from Richardson to Allen.
The company, which provides chips to the automotive market, will lease more than 97,000 square feet at 505 Millennium Drive, the two-story Millennium Center office owned by Austin-based Capital Commercial Investments.
The building is located off of Bethany Drive, across U.S. 75 from the Marriott Dallas Allen Hotel & Convention Center.
Improvements to Onsemi’s new design center space are expected to cost about $28 million, with architecture firm Gensler leading design to retrofit the space to include product research and development labs.
Work on the space will begin in August, with completion slated for next spring.
On Thursday, Onsemi announced that it would cut about 1,000 jobs globally, consolidate nine sites and either reassign or ask approximately 300 employees to relocate, according to a report from Reuters.
The moves are an effort to streamline operations and cut costs as the company copes with a slow electric vehicle market and an inventory surplus.
The company had about 30,000 full-time employees at the end of 2023, Reuters reported.
