General Electric (GE) Aerospace will invest nearly $1 billion into American manufacturing, the Ohio-based company announced Wednesday, saying they are “aligned” with the Trump administration’s economic goals.
The aerospace giant also stated that they will hire 5,000 U.S. workers this year, Reuters reported.
CEO Larry Culp shared more about the good news with Fox News’s Maria Bartiromo, saying the business is “growing at a very rapid rate,” and that the major investment will “fuel” thousands of American jobs.
“We have a tremendous demand mountain to climb. We are excited about it, and those 5,000 people coming onboard in the wake of this investment will be a large part of our success,” Culp said.
When Bartiromo brought up how the U.S. has lost a big chunk of manufacturing to Mexico and China in recent years, Culp said the “Trump administration’s objectives around American competitiveness, around American manufacturing, American innovation, is certainly well aligned with how we’re running this business.”
GE Aerospace is also set to become a publicly traded company on April 2.
Culp added that the investment “will keep the United States at the forefront of aerospace leadership,” and that it is “more critical than ever for the future of our industry and the communities where we operate.”
GE Aerospace has become just the latest business to announce investments since President Donald Trump returned to office in January, following Indiana-based pharmaceutical company Eli Lilly announcing a $27 billion investment to boost domestic drug production, Fox Business reported.
Tech giant Apple has also publicly committed to investing a staggering $500 billion into the American economy over the next five years, including the construction of an “advanced AI server manufacturing factory” outside of Houston, according to the outlet.
Apple also plans to open an Apple Manufacturing Academy in Detroit, and hire an additional 20,000 employees.