Biden will announce Siemens ’investment, planned jobs at the factory

President Joe Biden is pushing for more jobs in US plants – and will be joined on Friday by CEO Siemens USA to announce a $ 54 million investment in electrical infrastructure equipment.

The investment will create 300 additional jobs in California and Texas, according to senior Biden administration officials, who insisted on anonymity to preview the event on the White House campus. Siemens CEO Barbara Hampton is among several production executives who have met with Biden in recent weeks to discuss their expansion plans.

The White House has previously highlighted Intel’s plans to open a $ 20 billion plant in Ohio, and General Motors has allocated $ 7 billion to create 4,000 jobs for electric vehicles in Michigan.

In the U.S., there are about 12.6 million jobs in production, which is about 200,000 jobs below the pre-pandemic coronavirus level. Past presidents have promised a factory boom, but by early 2000 the economy had about 17.3 million jobs in production, when outsourcing to China and other countries accelerated as employers sought to reduce their costs.

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Because supply chains have shrunk since the COVID-19 outbreak, Biden argues that the return of jobs in U.S. plants will help eliminate supply chain nodes and keep inflation low.

The Democrat president on Friday will also announce details of the final rule related to his January-made “Made in America” order. The rule requires that companies that supply goods to the federal government, 75% of the content of their products produced domestically to meet the requirements by 2029. This is more than the previous level of 55%.

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