Siemens announces $285 million investment in the U.S.

Siemens announced Wednesday it will invest $285 million in the United States and detailed that it will include two new facilities in the states of Texas and California. In a statement, the company's chairman and CEO, Roland Busch, explained that the technology giant will invest more this year than it has been investing over the past 20 years, adding that, in addition to generating more jobs and technological development, Siemens would boost U.S. capabilities in artificial intelligence.

"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. We are bringing more jobs, more technology and a boost to America’s AI capabilities," the president and CEO detailed in the statement.

Equipment for different sectors

Elsewhere in his statement, Busch noted that the company's plan is to open two electrical products plants in the California city of Pomona and the Texas city of Fort Worth. The president and CEO added that the technology giant is hopeful that these investments could generate 1,000 specialized manufacturing jobs with equipment produced at these plants. Busch detailed that such equipment will support Siemens' industrial, commercial, and construction sectors, noting also that these moves would allow the company to boost artificial intelligence data centers in the country.

The announcement comes at a time when Taiwan Semiconductor Manufacturing, which is known to be one of the leading semiconductor companies worldwide, announced its intention to invest another $100 billion in the United States, in addition to the $65 billion in investment it had previously announced. The semiconductor giant detailed that this investment would be earmarked for the creation of three additional chip manufacturing plants and two packaging facilities in the state of Arizona.