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Minister Joe Biden pushing for more US factory jobs – and he isThe CEO of the tech company will join on Friday Siemens USA Announcing a $54 million investment to manufacture equipment for electrical infrastructure.
The investment will lead to 300 additional jobs in locations that include California and Texas, 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 production executives to meet. Biden to discuss expansion plans in recent weeks.
The White House has previously highlighted Intel’s plans to open a $20 billion factory in Ohio and General Motors pledged $7 billion to create 4,000 jobs to make electric vehicles in Michigan.
There are about 12.6 million manufacturing jobs in the United States, about 200,000 jobs, below pre-coronavirus pre-pandemic levels. Past presidents have promised a factory boom, but the economy had roughly 17.3 million manufacturing jobs in early 2000, when outsourcing to China and other countries accelerated as employers tried to cut costs.
With supply chains tightened after the COVID-19 outbreak, Biden argues that returning factory jobs to the US would help eliminate nodes in the supply chain and keep inflation low.
On Friday, the Democratic president will also reveal details of a final rule. her “Made in America” executive order from January of last year. The rule will require companies that supply goods to the federal government to make 75% of their product ingredients domestically by 2029. This is higher than the previous 55%.
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