TRUMP WINS AGAIN!
A major investment in U.S. production by South Korea-based Samsung Electronics is on the way, according to reports claiming that the production of some oven ranges could be moving from Mexico to the U.S.
The Wall Street Journal reported:
“Samsung Electronics Co. is planning a major investment to expand its U.S. production facilities, according to people familiar with the matter, with at least five states in discussions.
The initial capital investment is expected to be around $300 million, several of the people said, with Samsung shifting some production of oven ranges to the U.S. from Mexico. The move could generate around 500 jobs, those people said.
Talks are continuing and no final decisions have been made, with a start date for oven-range production still undetermined, the people said, so the details may change.
It won’t necessarily stop there either, as people familiar with the situation have noted that Samsung could up their production in the U.S. of refrigerators, washers, dryers, and other home appliances from the company. This hasn’t been set in stone yet, though the idea has been floated.
Five states had initial discussions with Samsung about U.S. production expansion, including Alabama, South Carolina, Ohio, Georgia, and North Carolina. South Carolina is reportedly a strong contender for the expansion, with the area of Blythewood, S.C being considered as a possible site.
“In response to an inquiry from The Wall Street Journal, Samsung confirmed its U.S. plans for the first time in a company statement. It said “preliminary” discussions had taken place about a new home-appliance facility. “However, this is a complex process that, like all strategic business decisions, will not be made final until it is determined through proper due diligence and planning that it is the best option for Samsung,” the company said.
As WSJ pointed out, those familiar with the situation noted that President Donald Trump’s election impacted the decision to expand production here in the United States — a point that the liberal mainstream media will likely report on begrudgingly, if at all.
Yet another company has begun the process of expansion here in the U.S. after the election of Trump. Jobs keep flowing back to the U.S. since Trump’s election, and hopefully that continues.
Source: The Federalist Papers