Company - - Mar 09,2017
Recently, Samsung is the latest company to announce plans to expand its U.S. production facilities, with some manufacturing shifting from Mexico.
Presently, Samsung is in "preliminary discussions" to set up a manufacturing facility in the U.S. which would focus on producing home appliances, according to a company spokesperson.
The initial investment is expected to be close to a noticeable amount of $300 million. It is also reported that, Samsung is in talks with five U.S. states, and the fresh decision can generate close to 500 jobs.
This new action by the technology giant comes as a result of President Trump’s decision regarding drives towards regulatory reform to boost up investment in domestic manufacturing along with a stern focus on job creation.
Import tax threats by the Trump administration are also doing the rounds. The newly-elected president Trump hasn’t hesitated to attack some of the world's biggest companies, instigating some of them to make promises regarding additional investment in the United States.
There is also news that some of the Samsung production facilities located in Mexico are projected to shift to the United States.
"Whatever happens in the future is really a decision made by our headquarters”, said an unnamed executive at Samsung in Mexico.
LG Electronics is also following an investment plan similar to Samsung. The company announced last month that it would spend $250 million in the establishment of a home appliance factory in the United States.
Similarly, Amazon has guaranteed to create full-time jobs in the U.S. with the estimated count of more than 100,000 by next year. Moreover, the firm has begun opening up additional fulfillment centers at different locations in the country.