Investing in U.S. Manufacturing
The United States is a leading producer of oil and natural gas, which is allowing for historic new investments in U.S. manufacturing.
ExxonMobil plans to invest more than $50 billion over the next five years to build and expand manufacturing facilities in the U.S. This includes the Growing the Gulf initiative, which will create about 45,000 jobs in the United States.
The Growing the Gulf initiative includes 11 major chemical, refining, lubricant and a liquefied natural gas (LNG) projects in Texas and Louisiana, representing $20 billion in total economic activity.
- New and abundant sources of domestic energy supplies in the U.S. are providing a competitive advantage with lower energy costs and abundance of raw materials used in the manufacturing process.
- ExxonMobil is investing in new refining and chemical-manufacturing projects in the U.S. Gulf Coast region to expand its manufacturing and export capacity.
- Investments for the 11 projects in the Growing the Gulf initiative began in 2013 and are expected to continue through at least 2022.
- The 11 projects will create over 45,000 jobs. Many of these are high-skilled, high-paying jobs averaging $100,000 a year.