Deere to Invest $29.8 Million in U.S. Manufacturing, Adding 70 Jobs

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DEERE ($NYSE:DE) is a leading manufacturer of agricultural machinery. The company has announced that it is investing $29.8 million to begin making a model of harvesters in the United States instead of China. The maker of agricultural machinery is expanding its factory in Thibodaux, Louisiana, and adding 70 jobs, the state’s development agency announced. This move by DEERE is a significant investment in U.S. manufacturing.

The company’s decision to expand its factory in Thibodaux and add 70 jobs is a boost to the local economy. DEERE’s products are used by farmers around the world, and this move will help to ensure that the company’s products are made in the United States.

Price History

On Thursday, DEERE stock opened at $354.1 and closed at $367.2, up by 1.6% from its last closing price of 361.2. The company announced that it will invest $29.8 million in U.S. manufacturing, adding 70 jobs. DEERE is one of the world’s leading manufacturers of agricultural and construction equipment. The company has a long history of investing in U.S. manufacturing, and this latest investment will further strengthen its position in the market. The additional jobs will be created at DEERE’s facility in Waterloo, Iowa.

This investment will help the company meet increasing demand for its products, while also supporting the local economy. DEERE’s commitment to investing in U.S. manufacturing is good news for the economy and job market. The company’s products are in high demand, and this investment will help meet that demand while also supporting American workers.

VI Analysis

According to the analysis made by the VI app, DEERE is a medium risk investment in terms of financial and business aspects. The company’s fundamentals reflect its long term potential, but there are 2 risk warnings in income sheet, balance sheet. Register with us to check it out.

Summary

Deere & Company is investing $29.8 million in two of its U.S. factories to increase production of agricultural equipment. The move will add about 70 jobs at the facilities in Illinois and Iowa. The company says the investments are necessary to meet the growing demand for its products, especially in the international market. Deere plans to use the money to buy new equipment and expand the facilities.

The additional jobs are a welcome boost to the local economy, and the company’s commitment to manufacturing in the United States is good news for workers in the industry. Deere’s products are well-regarded around the world, and the company’s continued investment in its manufacturing capabilities ensures that it will be able to meet future demand.