After six months of work preparing the former MEMC building, Finisar Corp.’s Sherman facility is ready to begin production.Finisar held a ribbon cutting ceremony Monday for its new facility featuring company executives and local officials, including Grayson County Judge Bill Magers, Sherman Mayor David Plyler, Sherman Economic Development Corp.
Editor’s note: This article has been updated with additional information from Finisar’s financial earnings call for the final quarter of the 2017-2018 fiscal year. Finisar Corp. announced Monday that its Sherman facility is expected to begin production on vertical-cavity surface-emitting lasers for Apple’s iPhone line of products by the end of the year.
When Finisar Corp. announced last month that it would begin producing vertical-cavity surface-emitting lasers for Apple at its new Sherman facility later this year, it did so without any local incentives in place. Of course, it had been awarded $390 million by Apple to increase the development and production of VCSEL arrays, but it had no formal agreements in place with any local entities.Sherman Economic Development Corp.