SHERMAN, Texas (KTEN) — Members of the Texoma Semiconductor Tech Hub met at Austin College on Monday to finalize their application for a federal grant that could reach $75 million.

Texoma is one of 31 applicants nationwide for funding provided by the U.S. Economic Development Administration.

If the Texoma Tech Hub receives the money, it will go toward training needed at semiconductor facilities.

"It would buy machinery equipment for funding and workforce training, not just at the technician and operative level — typically those are trained in the high schools and community college — it also provides funding for the universities," said Sherman Economic Development Corporation president Kent Sharp. 

The Texoma hub is the only applicant that includes two states as part of its service area.