LOS ANGELES (news agencies) — Siemens plans to invest $285 million in manufacturing in the United States, the tech company said Thursday, including two new facilities in California and Texas.
The U.S. is the largest market for the company. The recent investments in the Siemens’ U.S. manufacturing footprint and the planned acquisition of Altair, a Michigan-based software company, mark more than $10 billion in investment in the U.S.
“We believe in the innovation and strength of America’s industry. That’s why Siemens has invested over $90 billion in the country in the last 20 years. This year’s investment will bring this number to over $100 billion,” Roland Busch, president and CEO of Siemens AG, said in a statement. “We are bringing more jobs, more technology and a boost to America’s AI capabilities.”
Siemens’ announcement comes as chip giant Taiwan Semiconductor Manufacturing Co. said it plans to invest an additional $100 billion in the U.S., on top of $65 billion in investments the company had previously said it would make. That investment will be for three more chip manufacturing plants, along with two packaging facilities, in Arizona.
Siemens said it plans to open two manufacturing facilities for electrical products in Fort Worth, Texas, and Pomona, Calif. The company said it expects its latest investment to create more than 900 skilled manufacturing jobs, with the equipment produced in those factories supporting the U.S. commercial, industrial and construction sectors. The move will also allow the company to power AI data centers.
United Arab Emirates Dirham Exchange Rate
