Samsung will spend $380 million on a facility in South Carolina. Creating 950 jobs over the next three years, company officials announced Wednesday.
The company will produce home appliances at a former Caterpillar plant in Newberry County. The facility is expected to be in operation in early 2018.
“Samsung’s decision to invest in South Carolina and create nearly 1,000 new jobs here is one that will change the very fabric of the Newberry community,” Gov. Henry McMaster said in a news release. In fact, established in 1969 and employing nearly half a million people globally. Samsung is one of the world’s leading builders of televisions, smartphones, wearable devices, cameras, appliances and network systems.
Samsung began expansion of its U.S. production base nearly three years ago
The S.C. Coordinating Council for Economic Development, a state economic development arm. However, approved job development credits for the project.The announcement came ahead of the first summit between South Korean President Moon Jae-in and US President Donald Trump on Thursday.
In addition, Samsung began contemplating an expansion of its U.S. production base nearly three years ago. Initiated discussions with South Carolina in the fall of 2016, company officials said. Furthermore, the latest investment will allow Samsung to expand its business in the US, Yoon said. Meanwhile, adding that the company will join forces with industry experts and other innovative companies based in the world’s No. 1 economy.
Moreover, Newberry County selected company officials said, because of skilled workforce, robust supply chain, commitment to public-private partnerships. Its location near Interstate 25, providing access to manufacturers to the north and ports to the south.
while Samsung took up around 17.3 per cent of the US market for electronic appliances last year, according to the data compiled by industry tracker Traqline, industry watchers said the company aims to further solidify its lead with the new production facility.