Neighborhood Credit Union, the first credit union in the Dallas-Fort Worth area, opened a branch at Sherman Crossroads on Thursday. CEO Chet Kimmel, pictured at right, says the credit union chose Sherman based upon burgeoning population and rapidly growing economy.

The mega development in Grayson county is driven in part by job creation in Sherman.

Texas Instruments is set to receive up to $1.6 billion in funding from the CHIPS and Science Act to support the construction of three semiconductor plants. Most of the funding will go toward building two plants in Sherman.

"GlobalWafers will play a crucial role in bolstering America’s semiconductor supply chain by providing a domestic source of silicon wafers that are the backbone of advanced chips,” said U.S. Secretary of Commerce Gina Raimondo.

Cottonwood is expected to consist of 4,000 single-family lots, along with 1,450 rental units and 250,000 square feet of commercial and retail space, the developer said.

With more than 30,000 residential units in the works, Sherman could see its population double over the next decade.

A 10-acre plot will be divided between Israel-based Perseys and Tokyo Electron from Japan.

“As a credit union that serves the state of Texas, it is our mission to identify where we can have the most impact in financial wellbeing,” said Chet Kimmell, president and chief executive officer.

Signs of a rapidly evolving landscape aren’t hard to miss in Sherman. Here is what's ahead for this Dallas-Fort Worth boomtown.

GlobiTech is currently constructing the first phase of its $5 billion silicon wafer manufacturing plant in Sherman, expected to bring 1,500 jobs at full buildout.

As geopolitical tension drives chip manufacturing to the U.S., Texas has emerged as the place to do business, thanks to a combination of low taxes and new subsidies.

Texas is positioned to capture a big piece of the $11-billion National Semiconductor Technology Center.