(Photo Credit: Amgen)
America’s manufacturers are enjoying robust growth in 2018 as factory orders continue to grow, jobs continue to be created and manufacturing activity continues to expand at a historic rate. A surge of pro-growth policies and improving business climate are encouraging manufacturers to invest in the United States.
Earlier this year, pharmaceutical manufacturer Amgen announced that it was planning to utilize its tax reform savings to build a new state-of-the-art manufacturing facility somewhere in the United States. This week, the company revealed that the new plant will be built in Rhode Island and create 150 new manufacturing jobs:
Amgen Inc. will build a $165 million next-generation biopharmaceutical plant adjacent to its West Greenwich, Rhode Island, manufacturing campus, the state governor’s office told Reuters on Tuesday.
The plant will use Amgen’s new flexible and reconfigurable technology, part of the company’s ongoing efforts to control costs. Because it will be built next to an existing plant, it will cost a little more than half the $300 million estimated by the company in January. It will create 150 new manufacturing jobs, or half the 300 initially forecast.
Amgen, headquartered in Thousand Oaks, California, said in January it would locate the new plant in the United States, due in part to a lower effective tax rate stemming from U.S. tax reform.
After the passage of tax reform, Amgen said that it is planning $3.5 billion in capital investments over the next five years, 75 percent of which will be in the United States.
Manufacturers promised that passing tax reform would allow manufacturers to invest more resources into their facilities, their companies and their workforce. Companies like Amgen and other manufacturers small and large across the country are keeping that promise.
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