Freescale Semiconductor CEO Michel Mayer announced April 1 that the company has selected Austin for its global headquarters, despite fierce competition from other cities and states around the world, including Chicago, Phoenix and Dallas-Fort Worth. The newly independent company plans to invest about $600 million and create about 500 new jobs during the next 10 years.

Freescale, is a global leader in the design and manufacture of semiconductors for the automotive, consumer, industrial, networking and wireless markets. It became a publicly traded company in July 2004 after 50 years as part of Motorola, Inc. The headquarters employs about 600 people with average salaries of more than $100,000. The company employs 22,000 people in 30 countries and had $5.7 billion in revenue in 2004.

“Austin is a high-tech city with an attractive quality of life. It is an appealing environment for the innovators we need at Freescale,” Mayer said in a memo to employees. He also noted the proximity of two great universities—the University of Texas at Austin and Texas A&M.

“This is a great day for Austin,” Mayor Wynn said. “Austin has been successful in the first generation of semiconductor manufacture. The question is will it be successful in the second generation. Austin is now poised to do so.”

For more information on Austin, contact Dave Porter, Vice President for Economic Development at 322-5650 or dporter@austinchamber.com.