Fortescue to invest US$35m in US green manufacturing plant

URLhttps://www.capitalbrief.com/briefing/fortescue-to
SourceCapital Brief
Date Published11/17/2023

Additional Reshoring Information:

Company/Division name Fortescue Metals
Parent companyFortescue Metals
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Total number of jobs (added or to be added):600
Year reshoring announced:2023
Capital investment ($):35
Country(ies) from which reshored:Australia
State(s) reshored to:MI
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components
Product(s) reshoredbatteries, hydrogen generators
What non-domestic negative factors made offshoring less attractive?Green considerations
What domestic positive factors made reshoring more attractive?Government Incentives, Govt. Policy and subsidies, Infrastructure, Proximity to customers/market, Skilled workforce availability/training, IRA, incentives from state and federal governments
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