Samsung to invest $380 mn in United States, create 950 jobs

Reuters
Reuters
Author

30 June, 2017

In 2016, Caterpillar announced the closure of the Newberry plant and another facility in Ridgeway that resulted in loss of 400 jobs in the state.

In a statement, Samsung Electronics Chief Executive B.K. Yoon said the investment would allow Samsung to "increase the speed with which we can deliver premium home appliances that reflect the regional preferences of our fastest-growing and most important consumer market".

Samsung already operates a call center employing 800 people in Greenville County, about 50 miles (80 kilometers) away. "By constructing this production plant, not only are we going to expand our business in the USA but we are also going to strengthen our connection with American consumers, engineers, and innovative companies that lead global trends for home appliances". It expects to start building appliances like washing machines later this year.

The facility, which will manufacture premium home appliances for the United States market, will eventually employ 954 workers. Standing are, from left to right, US Commerce Secretary Wilbur Ross, Senator Lindsey Graham, Deputy Minister of Trade, Industry and Energy Lee In-ho and Samsung Electronics US President Tim Baxter.

The South Korean-based electronics corporation said that the announcement was part of a larger plan to expand its US holdings and operations.

The investment is about 380 million dollars and will bring with it more than 950 positions over the next three years.

South Carolina Gov. Henry McMaster said in a statement that he's "thrilled to strengthen" his state's partnership with Samsung.

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"With this investment, Samsung is reaffirming its commitment to expanding its U.S. operations and deepening our connection to the American consumers, engineers and innovators who are driving global trends in consumer electronics". This includes a focus on using local vendors when possible, which we expect will support indirect jobs beyond those being directly created in their facility, Samsung says.

Samsung Electronics has announced it's opening a new manufacturing plant in Newberry County, South Carolina.

"S.C. Ports Authority congratulates Samsung on their plans to establish operations in SC", said S.C. Ports Authority President and CEO Jim Newsome. The commerce department of the southern USA state said it approved job development credits for the project by the South Korean technology giant.

Samsung said Wednesday's announcement comes on the heels of a series of investments it has made during the past 18 months that total $10 billion.

Established in 1969 and employing almost half a million people worldwide, Samsung manufactures TVs, smartphones, wearable devices, cameras, digital appliances, network systems and more.

Samsung said Newberry was chosen for its abundance of skilled workers and good access to transportation.


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