Siemens invests $150 million in new manufacturing plant, hiring more than 700

URLhttps://fortworthreport.org/2023/11/04/siemens-inv
SourceFort Worth Report
Date Published11/04/2023
Author NameSeth Bodine

Additional Reshoring Information:

Company/Division name Siemens
Parent companySiemens AG
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Total number of jobs (added or to be added):700
Year reshoring announced:2023
Year reshoring implemented or to be implemented:2024
Capital investment ($):150
Country(ies) from which reshored:Germany
City reshored to:Fort Worth
State(s) reshored to:TX
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components
Product(s) reshoredlow-voltage switchgear and switchboards
What non-domestic negative factors made offshoring less attractive?Green considerations, Social/ethical concerns
What domestic positive factors made reshoring more attractive?Government Incentives, Skilled workforce availability/training, City tax abatement
Government Incentive dollar amount:$6 mil
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