October 20, 2023

Tech Giants, Perseys and Tokyo Electron, Expand Operations to Sherman

SHERMAN, Texas — In a significant move for Sherman’s business landscape, two prominent global tech companies, Perseys from Israel and Tokyo Electron from Japan, have sealed deals to set up operations in the city. The agreements were officially confirmed during the latest session of the Planning and Zoning Commission held on Tuesday.

The chosen location for this expansion is a strategically positioned 10-acre parcel situated at the intersection of Howe Drive and Dorset Drive. Sherman Economic Development Corporation (SEDCO) President, Kent Sharp, emphasized the transformative nature of this development, stating, “It’s very important; it represents the world cutting-edge technology that’s being located, being built, right here in Sherman.” The entry of these global players is anticipated to generate approximately 120 jobs in the area.

As part of the agreement, one of the companies is set to construct an impressive 50,000 square foot facility, while the other will establish a facility spanning 20-30,000 square feet. The acquisition of the land by SEDCO dates back to 2020, with a finalized closing date yet to be determined. The combined purchase cost for the two plots reached $900,000.

SEDCO President Kent Sharp shed light on the uniqueness of this land, explaining, “This particular tract of land was only 10 acres. It’s in an industrial park that has the minimum requirements are smaller, so we had to work through a couple of details, but it all worked out.”

In tandem with this exciting development, SEDCO is actively exploring the expansion of Dorset Drive, including the addition of aprons to enhance traffic flow in the area. The growth of Sherman’s tech sector signals a promising future for the city as a hub for cutting-edge global technology.