GE Aerospace on Tuesday announced a nearly $1 billion investment in U.S. manufacturing, the latest company to do so under the Trump administration.
The company said the investment will help “strengthen manufacturing and increase the use of innovative new parts and materials needed for the future of flight.” It marks the latest company to put money back into the U.S. economy.
GE said the funds, nearly double last year’s commitment, will help increase the safety, quality, and delivery of engines, benefiting more than two dozen communities across 16 states. GE said it will also hire around 5,000 U.S. manufacturing and engineering workers.
ELI LILLY INVESTING $27B MORE IN US MANUFACTURING
Since President Donald Trump was sworn into office earlier this year, the administration has been trying to reshape global trade norms to boost manufacturing on U.S. soil.
GE Aerospace CEO H. Lawrence Culp Jr. said the company is helping its customers modernize and expand their fleets while scaling innovative technologies, noting that this “will keep the United States at the forefront of aerospace leadership.”
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“Investing in manufacturing and innovation is more critical than ever for the future of our industry and the communities where we operate,” he said.
Eli Lilly announced last month that it was investing an additional $27 billion to boost domestic drug production, bringing the company’s total U.S. manufacturing investment to more than $50 billion since 2020.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 216.98 | -3.86 | -1.75% |
| GE | GE AEROSPACE | 195.03 | +3.38 | +1.76% |
| LLY | ELI LILLY & CO. | 822.27 | -1.50 | -0.18% |
Apple also announced that it is committing $500 billion over the next five years, which will involve building an advanced AI server manufacturing factory near Houston, as well as doubling the company’s Advanced Manufacturing Fund from $5 billion to $10 billion.
The tech giant also plans to establish an Apple Manufacturing Academy in Detroit, as well as hire 20,000 new employees with focuses on research and development, silicon engineering, artificial intelligence and machine learning.
Softbank, DAMAC, Meta and others have also committed to investing in the U.S. under Trump.
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