Samsung looks to expand U.S. manufacturing

Trump's win pushed this manufacturer to escalate return to the U.S.
Trump's win pushed this manufacturer to escalate return to the U.S.

Samsung is the latest company talking up plans to expand its U.S. manufacturing footprint.

Samsung (SSNLF) is in "preliminary discussions" to open a manufacturing facility in the U.S. to produce home appliances, a spokesperson for the company confirmed Wednesday.

The new factory comes as President Trump pushes for tax and regulatory reform to encourage investment in domestic manufacturing and job creation.

In response to a rumor last month about the new Samsung factory, Trump tweeted: "Thank you, @Samsung! We would love to have you!"

But on Wednesday, Samsung suggested it began thinking about the new factory before Trump was elected.

Related: Silicon Valley's impossible balancing act with Trump

"Samsung began reviewing manufacturing operations early last fall to ensure that the company is able to best serve our customers," a spokesperson said in a statement provided to CNNTech.

Last month, Intel's (INTC) CEO stood in the Oval Office and touted plans for a $7 billion factory in Arizona, crediting the Trump administration's "tax and regulatory policies" for the decision. However, Intel had previously announced a $5 billion investment in the same factory with President Obama in 2011.

Amazon (AMZN) has pledged to create more than 100,000 new full-time jobs in the U.S. by next year and begun opening up additional fulfillment centers around the country -- an expansion it would likely have had to do regardless of who won the election.

Apple (AAPL), Samsung's chief rival in the smartphone market, also pumped $1 billion into a massive technology fund from Japan's SoftBank Group, whose founder had previously committed to invest in U.S. hiring.

The Wall Street Journal reported earlier Wednesday that Samsung may invest around $300 million in the new factory, potentially creating 500 jobs.

Social Surge - What's Trending

Personal Finance

CNNMoney Sponsors