Schneider Electric to Invest More Than $700 Million in U.S.
Global energy management and digital transformation giant Schneider Electric will invest more than $700 million in U.S. operations over the next two years, the company announced yesterday (The Dallas Morning News, subscription).
What’s going on: “Schneider said it intends to leverage the investment to ‘support the country’s focus on bolstering the nation’s energy infrastructure to power AI growth, boost domestic manufacturing and strengthen energy security.’”
- The investment—the largest planned single capital expenditure in Schneider Electric’s 135-plus-year history—will be used to expand manufacturing facilities across the U.S. and to boost “smart factory transformation” across Texas, Massachusetts, Missouri and Tennessee, among other states.
- The company is the latest in a string of large manufacturers to announce sizeable domestic investments. Last week, biopharmaceutical firm Johnson & Johnson said it would spend more than $55 billion in the U.S. over the next four years.
- The announcement comes less than a year after the opening of Schneider Electric’s 105,000-square-foot facility in Red Oak, Texas, to support the data center boom in the Dallas–Fort Worth area.
Where else funds will go: The money will also be used to expand a campus in El Paso, Texas, “to keep up with growing demand to increase production of switchgear and power distribution products,” and to open a Houston innovation center that will offer AI-powered automation solutions.
Our take: “Schneider Electric’s significant investment is a clear sign that manufacturing in America is moving forward—driving economic growth, innovation and job creation across the country,” NAM President and CEO Jay Timmons said in a statement quoted in the article.
- “By expanding their operations with a focus on energy security, automation and AI, Schneider Electric is not only strengthening America’s competitiveness but also creating new opportunities and powering our nation’s future.”