On the campaign trail, Trump made innumerable promises, like all politicians do. Many of them had to do with the poor economic conditions in the US, and Obama’s complete failure to do anything about.
He promised to bring jobs back to the US, and pursue an America first economic policy that places citizens above imported and exported labor. His transparently free-market beliefs had an immediate effect on the market, even before he took office, proving that merely the attitude of the president ca have a significant impact on the market.
In the past year, we’ve seen unemployment drop, the stock market breaking records, and growth ramp up. Businesses that have exported their factories are bringing them back as well, and while there’s been no shortage of examples, the latest is one of the richest companies in the world.
As reported at the New York Post, Apple announced on Wednesday it would invest $390 million in Finisar, which it will use to build out a plant in Texas to make chips that power popular iPhone features such as face ID, animojis and portrait-mode selfies.
The move is part of Apple’s $1 billion “Advanced Manufacturing Fund” which they created to foster innovation and create jobs.
The contracted company Finisar will use the money to renovate and prepare a closed-down 700,000-square-foot manufacturing plant in Sherman, Texas, so it’ll be suitable for developing the high-tech VCSELs chips.
Once the plant is up and running, 500 high-skilled jobs will be created in the Texas town. Combined with a nearby plant in Allen, TX, Finisar’s total payroll in North Texas will exceed $65 million. There’s no question that the capital infusion will have a major local economic impact, as these jobs will attract highly-educated workers to the area.
If it were 2016, it’s likely that Apple would have sent this facility to another country. But thanks to the America first attitude and policies of President Trump, companies are starting to invest in America again.
Source: New York Post