Roche, a global pharmaceutical company based in Switzerland, has announced plans to invest $50 billion in the US over the next five years.
The company claimed the move will assist in increasing capacity at locations in Kentucky, Indiana, New Jersey, Oregon, and California, where it already has factories.
More than 12,000 jobs will be created by the investment, according to Roche, 1,000 of which will be with the firm and the rest will support new manufacturing capabilities in the US, which currently boasts over 25,000 employees in the US.
In addition to strengthening and growing its production facilities in Indiana, Pennsylvania, Massachusetts, and California, the pharmaceutical behemoth will invest in the establishment of new, cutting-edge research and development (R&D) facilities.
AI research is expected to be conducted at a new research and development facility in Massachusetts that will also serve as a center for studies on treatments for metabolism, kidney disease, and cardiovascular disease.
To support Roche's "expanding portfolio of next generation weight loss medicines," a new 900,000 square foot production facility will be constructed in an undisclosed location using the cash package.
Roche stated that it plans to export more medications from the US than it imports after the additional manufacturing capacity investments are finished.
With President Donald Trump threatening to remove the pharmaceutical industry's exemption from import duties, pharmaceutical corporations have been rushing to increase their U.S. presence.
Roche's investment comes after significant competitors have taken similar actions. Novartis, a company based in Switzerland, revealed earlier this month that it would invest $23 billion to build and expand 10 facilities in the United States, creating over 4,000 jobs in the process.
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Last month, the massive British pharmaceutical company AstraZeneca announced that it will invest $2.5 billion to establish a base in Beijing. Pascal Soriot, the CEO of the business at the time, told CNBC that AstraZeneca was still "very committed to the United States," where it has two "very large" research and development facilities.