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In September, Toyota announced that it will invest $391 million in its truck assembly plant in San Antonio. Hyundai announced that it is investing nearly $300 million in its factory in Montgomery, AL. Brake manufacturer Bendix Spicer began construction on a $65 million expansion of its assembly plant Bowling Green, KY. And, automotive supplier Hirotec Group said it will invest $48 million to build a new assembly plant in Fayetteville, TN.
The past year brought blockbuster headlines for U.S. manufacturing. Taiwanese electronics giant Foxconn unveiled plans to build a $10 billion assembly plant in Wisconsin that would make liquid-crystal display panels and employ as many as 13,000 people.
Overall, 2016 has been a pretty good year for U.S. manufacturing. In every industry covered by ASSEMBLY magazine, manufacturers were investing in people, plants and equipment.
WASHINGTON—Orders for U.S. business equipment climbed in October for the fourth month in the last five, indicating corporate investment may be starting to thaw.
WASHINGTON—Spending on construction or renovation of factories is up 12 percent in 2014, compared to being virtually flat in 2013, according to Census Bureau figures.
WASHINGTON—CEOs’ expectations for the economy over the next six months have improved due to expected higher sales and capital spending, but expectations for hiring remain flat, according to the last economic outlook survey from the Business Roundtable.