Biden to announce $54M Siemens investment, planned US factory jobs

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The Siemens USA investment will lead to 300 additional jobs at locations that include California and Texas, an official said. FOX13

, according to senior Biden administration officials who insisted on anonymity to preview the event on the White House campus. Siemens USA CEO Barbara Humpton is among several manufacturing executives who've met with Biden in recent weeks to discuss their expansion plans.

The White House previously highlighted plans by Intel to open a $20 billion plant in Ohio and General Motors committing $7 billion to create 4,000 jobs for making electric vehicles in Michigan. FILE IMAGE - A winch hangs on the high voltage circuit breaker production line inside Siemens AG switchgear electronic power unit factory in Berlin, Germany, on Sept. 13, 2018. Photographer: Krisztian Bocsi/Bloomberg via Getty Images

The U.S. has about 12.6 million manufacturing jobs, about 200,000 jobs shy of pre-coronavirus pandemic levels. Past presidents have pledged a factory boom, yet the economy had roughly 17.3 million manufacturing jobs toward the start of 2000 when outsourcing to China and other countries accelerated as employers sought to lower their costs.

With supply chains squeezed after the COVID-19 outbreak, Biden is arguing that the return of factory jobs to the U.S. will help eliminate knots in the supply chain and keep inflation low.President Joe Biden remarks on the importance of American manufacturing and buying products made in America.from January of last year. The rule will require that companies providing goods to the federal government have 75% of their product content made domestically to qualify by 2029.

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Biden to announce Siemens investment, planned factory jobsPresident Joe Biden has been pushing for more US factory jobs—and he'll be joined by the CEO of technology company Siemens USA to announce a $54 million investment in producing equipment for the electrical infrastructure. Just keep pushing the greeninitiative. How about getting with oil and midstream companies and seeing how the government can help that process so we can become EnergyIndependent America shouldn't be importing any foreign oil. We can use our own to produce goods within the US. We need to get off fossil fuels. He needs to hurry up and do something because Russia just announced they're not making our rocket engines anymore we are our own country and we have to depend on them to make our rocket engines really they told us we will have to fly the space on a broomsticks LOL
Source: ABC - 🏆 471. / 51 Read more »