Samsung Investing $300M, Moving Jobs to US from Mexico

Tenacious D · Mar 9, 2017

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.
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You. Don't. Say. Why hasn't any other POTUS done the same, beforehand?

Samsung’s interest in a U.S. factory was influenced by the election of U.S. President Donald Trump, according to people familiar with the matter. Mr. Trump campaigned on a desire to create more manufacturing jobs in the country—and has threatened potential penalties for companies that don’t comply.
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Since Mr. Trump’s election, some large firms across Asia have pledged to expand U.S. operations or investments. Masayoshi Son,head of Japan’s
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SoftBank Group Corp., said after a meeting with Mr. Trump in December that he would invest $50 billion in the U.S., while electronics assembler Foxconn Technology Group has announced plans for expansion.
Samsung’s hometown rival LG ElectronicsInc. said last week that it would build a new home-appliance manufacturing factory in Tennessee, creating at least 600 jobs and investing $250 million.

In a sign of Samsung’s stature in the U.S., Samsung Vice Chairman Lee Jae-yong was the only executive from a foreign company to be invited to a mid-December tech industry meeting with Mr. Trump, then the president-elect, according to people familiar with the matter.
The gathering at Trump Tower in New York drew the chief executives of Apple Inc.,Amazon.com Inc., Microsoft Corp., Google parent Alphabet Inc. and others.
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Link: https://www.wsj.com/articles/samsun...ld-shift-manufacturing-from-mexico-1488985610

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Samsung Investing $300M, Moving Jobs to US from Mexico

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Samsung Investing $300M, Moving Jobs to US from Mexico

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