President Donald Trump praised Exxon Mobil for its recent announcement that it will invest up to $20 billion and add more than 45,000 construction and manufacturing jobs in the United States Gulf Coast region.
Exxon CEO Darren Woods said the investments would go to improving and expanding 11 existing facilities in Texas and Louisiana.
“The United States is a leading producer of oil and natural gas, which is incentivizing U.S. manufacturing to invest and grow,” Woods said in a statement, according to Fox Insider.
President Trump was quick to praise the oil giant for its plans.
Praising Exxon Mobil’s “ambitious” plans, the Trump administration said that the announcement is “exactly” the kind of investment the country needs. The president’s statement read:
This is exactly the kind of investment, economic development and job creation that will help put Americans back to work. Many of the products that will be manufactured here in the United States by American workers will be exported to other countries, improving our balance of trade. This is a true American success story. In addition, the jobs created are paying on average $100,000 per year.
Exxon’s announcement is another in a growing list of new jobs being created by a number of American companies that began before Trump even took office.
Follow Warner Todd Huston on Twitter @warnerthuston or email the author at igcolonel@hotmail.com.