Samsung to Expand US Operations
Opens $380 Million Home Appliance Manufacturing Plant in South Carolina
Samsung reached an agreement with the State of South Carolina to open a state-of-the-art home appliance manufacturing plant in Newberry County. The $380 million facility will produce some of Samsung’s most popular home appliances and will generate 954 local jobs by 2020. This is the latest in a series of investments expanding Samsung’s US holdings and operations.
“This new investment will enable Samsung to increase the speed with which we can deliver premium home appliances,” said Samsung Electronics CEO B.K. Yoon.
Samsung began contemplating an expansion of its US production base nearly three years ago and initiated discussions with South Carolina in the fall of 2016. The company ultimately selected the Newberry County site for its high-skilled workforce, robust supply chain and transportation infrastructure and commitment to public-private partnerships.
“The fact that one of the world’s largest and most respected technology companies is choosing to invest in South Carolina speaks volumes about the innovation and excellence our talented workforce is capable of,” said South Carolina Governor Henry McMaster.
“Samsung’s investment is great news for South Carolina and the United States, and it is a direct reflection of the fact that America is becoming an even stronger destination for global businesses looking to grow,” added United States Commerce Secretary Wilbur Ross.
When fully operational, the plant will employ workers across a range of advanced manufacturing roles, including craftsmen, operators, engineers, and other both technical and non-technical positions.
The facility will produce premium home appliances including washing machines from early next year. Samsung already operates a call center in Greenville, South Carolina, that supports 800 full time and contracted jobs.
“For nearly forty years, Samsung has steadily expanded our operations in the United States,” said Samsung Electronics America President & CEO Tim Baxter. “With this investment, Samsung is reaffirming its commitment to expanding its US operations and deepening our connection to the American consumers, engineers and innovators who are driving global trends in consumer electronics.”
Samsung’s announcement comes on the heels of a series of recent investments in the US totaling over $10 billion, including the acquisition of Connecticut-based HARMAN International, a leader in the connected car market, for $8 billion. The company has also acquired Dacor, a luxury home appliance company based in Los Angeles. Samsung has also committed $1.2 billion to US-based Internet of Things R&D and investments over the next four years and $1 billion to expanding its semiconductor facility in Austin, Texas.
Ross noted that the US is currently home to more foreign direct investment (FDI) than any other country in the world, with a total of $3.1 trillion at the end of 2015. FDI supports more than 12 million direct and indirect US jobs and is responsible for $425 billion, or more than one-quarter, of all US goods exports.
Need a Logistics Provider?
Compare over 100 Instantly
Download the FREE Global Trade Magazine APP!