WASHINGTON (TNND) — Several companies, including Apple, have announced they plan to spend billions of dollars investing in the United States.
Jared Pincin, an economics professor at Cedarville University tells us, that larger companies committing to invest in the United States means more employment opportunities for Americans.
It’s positive from the perspective of more investment in the U.S. More jobs available,” said Pincin.
Within the last two weeks, several companies committed to investing in the U.S. Apple, $500 billion. Chip giant TSMC $100 billion and Eli Lilly at least $27 billion. Something Tom Smith, a finance expert at Emory University tells us is a good move for the U.S.
“There’s going to be a little backlash from domestic companies but in the long run, this is much better for communities,” said Smith.
Pincin tells us, one reason why these companies want to invest in the United States is because it’s an attractive place to be.
“The business environment is just acceptable. There’s not as many regulations as you would see elsewhere,” Pincin said.
But he believes it’s worth paying attention to why these companies are investing.
“Are they doing it to avoid let’s say tariffs or trade restrictions which aren’t the best reason to do it,” said Pincin.
Apple says it plans to build a new factory in Texas and expand facilities in several different states. Eli Lilly and TSMC say they’re focusing on boosting manufacturing.