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Fox News is reporting that LG will be opening a new plant in Detroit:
LG Electronics said Tuesday it will spend $25 million to open a U.S. plant for manufacturing electric vehicle components.
The 250,000-square-foot building is located in Hazel Park, Michigan, a suburb of Detroit. When it opens next year, the plant will create at least 292 jobs in Hazel Park and an expanded research and development center in nearby Troy.
The Michigan government is providing a four-year, $2.9 million capital grant for the project.
[...] LG said vehicle components are the company's fastest-growing business. Auto-related revenue jumped 43% year-over-year to $1.5 billion during the first half of 2017, driven by LG's supplier agreement with General Motors (GM) for the new Chevrolet Bolt electric vehicle.
[...] In addition to the Michigan facility, LG expects to begin construction soon on a $250 million factory for washing machines in Clarksville, Tennessee. The production plant will create 600 new jobs by 2019, according to LG. The company is also building a new North American headquarters down the road from its current offices in Englewood Cliffs, N.J. The project will cost $300 million.
(Score: 3, Funny) by frojack on Sunday August 27 2017, @03:52PM (4 children)
2.9 million over 4 years is hardly enough to pay for the permit filing fees, let alone property taxes. And not anywhere near enough to line the pockets of public servants. On the scale of Korean bribes, its insulting.
Silly Republican government in that state just doesn't understand how to do business.
No, you are mistaken. I've always had this sig.
(Score: -1, Offtopic) by Anonymous Coward on Sunday August 27 2017, @04:44PM
I did a big jobbie in the toilet this morning. #JOBS
(Score: 2) by driverless on Monday August 28 2017, @12:00AM (2 children)
I'm also puzzled about LG's overall strategy here. The obvious process would be to find out the minimum amount of work that's required in order to claim "Made in USA", let's say it's "tightening the screws on the cover", then find a location that has the best combination of easy access to shipping routes from Korea or China + best state subsidies for new plants, and then set up your screw-tightening factory there. So you get state subsidies and get to slap "Made in USA" on your product rather than "Made in China" and overall it's a big win, as long as you're LG or Samsung or a Chinese vendor.
(Score: 0) by Anonymous Coward on Monday August 28 2017, @01:34AM (1 child)
Don't know the actual legal requirements, but I think your example would allow an "Assembled in USA" label and should not say "Made in USA".
(Score: 2) by driverless on Monday August 28 2017, @05:24AM
Sure, what I meant was find the minimal requirements that gets you what you want and go with that. An easy one would be, for example, if 50% by weight of the item has to be made in the US then you ship in your Samsung washing machines without the concrete base, pour in the concrete that makes up most of the weight in the US, and claim "Made in USA" based on that. Or whatever it takes to comply with the letter but not the spirit of the regulations.