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President Joe Biden and Siemens USA CEO Barbara Humpton on Friday afternoon are slated to talk up the company’s plan to invest $54 million in domestic manufacturing facilities, an outlay that’s expected to create around 300 jobs.
In addition, Biden is due to speak about new requirements for federal government purchasing tied to his “Made in America” efforts, such as a rule that products have at least 75% domestic content, up from 55%, according to a White House news release.
The new spending by Siemens USA is aimed at an “existing electrical infrastructure manufacturing hub” in Grand Prairie, Texas, where workers are represented by IBEW Local 220, as well as a “greenfield manufacturing site for electrical infrastructure and make-ready EV charging equipment” in Pomona, Calif., where the union organization is IBEW Local 1710, the company said in a news release. IBEW stands for the International Brotherhood of Electrical Workers.
The investment also will go toward a “soon-to-be chosen manufacturing location for EV charging equipment,” said Siemens USA, the American arm of German industrial conglomerate Siemens
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From MarketWatch’s archives (April 2018): Siemens Healthineers debuted with a healthy pop — here’s how to play the stock
The White House event featuring Biden and Humpton is scheduled for 12:25 p.m. Eastern on Friday, and IBEW’s international president, Lonnie Stephenson, is also slated to make remarks.
