Johnson and Johnson plans USD 55 billion in US investments over next four years

Johnson and Johnson says it will invest more than USD 55 billion within the United States over the next four years, including four new manufacturing plants. A number of companies have highlighted investments in the US in recent months, a focus of Trump administration.

Johnson and Johnson said on Friday that it is a 25 per cent increase in investment compared with the prior four years and estimates the US economic impact will be more than USD 100 billion a year.

"Our increased US investment begins with the ground-breaking of a high-tech facility in North Carolina that will not only add US-based jobs but manufacture cutting edge medicines to treat patients in America and around the world," Chairman and CEO Joaquin Duato said in a statement.

The North Carolina plant is in Wilson, just east of Raleigh. The locations of the other three facilities were not disclosed.

Aside from building four new plants, Johnson and Johnson said that it will expand several existing sites. The company is also planning to make investments in research and development infrastructure and technology.

Johnson and Johnson's efforts are among several companies pledging to enhance their manufacturing in the US Earlier this month chip giant Taiwan Semiconductor Manufacturing Co. said that it plans to invest USD 100 billion in the US, on top of USD 65 billion in investments the company had previously announced.

In February Apple announced that it plans to invest more than USD 500 billion in the US over the next four years, including plans to hire 20,000 people and build a new server factory in Texas.

Apple outlined several concrete moves in its announcement, the most significant of which is the construction of a new factory in Houston - slated to open in 2026 - that will produce servers to power Apple Intelligence, its suite of AI features.