ON Semiconductor, an Arizona-based semiconductor designer, manufacturer and supplier, plans to relocate its Dallas-Fort Worth design center from Richardson to Allen.
The company, which supplies semiconductors to the automotive market, will lease more than 97,000 square feet of space in the two-story Millennium Center office building at 505 Millennium Drive, owned by Austin-based Capital Commercial Investments.
The building is located on Bethany Drive, across U.S. 75 from the Marriott Dallas Allen Hotel & Convention Center.
Renovating ON Semiconductor’s new design center space is expected to cost about $28 million, with architecture firm Gensler leading the design to renovate the space and house product research and development labs.
Construction on the space is expected to begin in August and be completed next spring.
OnSemi said on Thursday it would cut about 1,000 jobs worldwide, consolidate nine sites and redeploy or ask about 300 employees to relocate, Reuters reported.
The move is an effort to streamline operations and cut costs as the electric vehicle market struggles and there is excess inventory.
According to Reuters, the company will have about 30,000 full-time employees as of the end of 2023.
