The 2017 US economy is off to a promising start, as six automobile manufacturers recently announced sizable investments for their American plants. And that number continues to grow. Auto factory expansion in the US not only boosts employment, but also sets a certain tone, helps to revitalize local communities and encourages more industries to follow suit.
All of the companies involved in auto factory expansion across America are committed to emerging technologies and engineering new lineups that stimulate incremental growth. Let’s take Fiat-Chrysler, for example. Because its $1 billion investment in the Warren, Michigan and Toledo, Ohio plants paves the way for the return of Jeep Wagoneers.
Also, an additional $700 million means the Ford Flat Rock, Michigan plant will move forward with anticipated vehicles such as a Mustang hybrid and an all-electric SUV. And within five years, Hyundai and Kia’s $3.1 billion investment will augment new production of hybrid and electronic vehicles as well.
Furthermore, GM’s $1 billion dollar boost in domestic plants proves its long-term dedication to its most influential market. Chief Executive Mary Barra of GM said, “The US is our home market and we are committed to growth that is good for our employees, dealers and suppliers.”
Last but not least, Toyota rounds out the current list of manufacturers on board with auto factory expansion in the US. Noteworthy, their team is putting $600 million into their Princeton, Indiana plant. And that’s only one part of a $10 billion plan being rolled out over five years, which will result in 40,000 additional Highlanders annually.
Strengthening the American Economy
Political views aside, companies have an enormous effect on the American economy. And that’s something on everyone’s mind regardless of party affiliation. Frankly, consumers like to know where the money is going. Not only theirs personally, but also the funds of those they are investing in short or long term. So it’s easy to see how such large steps in auto factory expansion across the US elicits consumer confidence in a brighter tomorrow.
Not to mention, it goes without saying that more monies invested in American manufacturing plants means increased jobs within local communities. Auto factory expansion on the home front is set to provide 700 jobs with Ford and 2,000 with Fiat-Chrysler. Another 7,000 opportunities will be available with GM between an estimated 2,000 for manufacturing positions and an additional 5,000 for engineering, finance and various salaried sectors. Likewise, the end of 2018 will see 400 positions filled by Toyota, which continues the company’s upward rise in employment since 2014.
And let’s not forget the round robin of cash flow this creates. Auto manufacturers making smart investments in domestic infrastructure are gaining consumer support and loyalty. In turn, the hope is that these new hires now have additional funds to sink into their local economies. Idealistically, the increase in supply and demand creates future jobs for other shops. Funny how economic opportunity has a way of bringing communities closer together.
No doubt, growth on American soil will have a domino effect. Why? Because participating automakers set the pace for others to jump on board. And those companies who make similar investments will likely experience positive results and forge long-lasting relationships as well. You see, it’s this kind of longevity that strengthens job placement and security.
Auto factory expansion also builds confidence for the industry at large. Let’s face it, everyone is hitched to the sustainability of the OEMs. And everyone from dealers and consumers to aftermarket distributors, brick and mortar retailers and e-commerce sites stands to gain or lose based on their success. Automaker decisions influence consumer confidence and business for those involved at every level.
Enhancing Customer Investments
No magic eight ball exists to inform us how American production will affect retail prices. But increased morale is a powerful thing, and it’s been known to lead to solid investments. One thing is for sure, consumers are happy that manufacturers are going beyond listening to needs and preferences; they’re acting. Support for auto factory expansion in the US shows the industry’s scope of influence both economically and socially. The list below provides merely a glimpse of their reach. Just imagine the possibilities with expansion here in America.
- Fiat-Chrysler: Motor Citizens, where Fiat-Chrysler employees receive paid time off for community projects and causes
- Ford: STEAM (science, technology, engineering, arts and mathematics), “Girls Who Code” and Destination Imagination programs
- GM: Educational STEM programs, MADD, Power of Parents© and Buckle Up (child safety)
- Hyundai:”Hyundai Coats for Kids”, “Hyundai Hope on Wheels” (pediatric cancer) and MIND Research ST Math (elementary math skills)
- Toyota: Paralyzed Veterans of America and Stay in Step (spinal-cord injury rehabilitation and recovery)
Yes, it’s a heated topic that points to deeper-rooted division among Americans. But you see, the discussion of auto factory expansion in the US is as personal as it is professional. Automaker commitments are a sign of faith in the future to come. And they’re planting the seeds of tomorrow right here in the good ol’ USA.