Texas injection for Riviera business park

The American group has played a key role in the Riviera technopole for over 40 years where it specialises in complex highly integrated semi-conductors at its site near Villeneuve-Loubet. Like so many others, the company was hit broad side by the economic crisis and had to make over 300 staff redundant as part of a restructuring plan at the end of 2008.

In return it has committed to investing over 1.7 million euros towards funding long-term employment creation in Sophia, the goal being to create over the next two years as many jobs as were lost at its own site. The first cheque for 350,000 euros kick-starts the initiative and represents a fund of money that companies can apply to for a subsidised loan through official partner Crédit Agricole Provence Côte d'Azur.

The Texas Instruments pledge is part of a wider plan to breathe new life into the park. For example, a similar contract to replace lost jobs was also agreed last year with Sanofi-Aventis France to the tune of nearly 700,000 euros. CL