![](https://misspennystocks.com/wp-content/uploads/2018/01/exxon.jpg)
Exxon To Invest $50 Billion In Its US Business’ Expansion
![](https://misspennystocks.com/wp-content/uploads/2018/01/exxon.jpg)
The giant oil company in the United States stated last Monday that they plan to invest an astounding $50 billion dollars to expand its business operations across the country. The company is confident that their investment will harbor success and profit while creating more job opportunities for its community in the next five years.
Exxon plans to Invest $50 Billion to Expand its US Business Operations
This latest and gigantic movement of Exxon was prompted after the change in the American Tax overhaul. CEO Darren Woods made the announcement on his blog post, stating that the company will further study how the tax overhaul would help the company to drive more investments in the future. The company has yet to disclose the breakdowns or detailed plan on how to spend the $50 billion investment, as well as how the tax changes would affect the investment. However, Mr. Woods gave a hint of two possible strategic locations where they would be pouring billions of investment to boost their production. Two of the locations they’re considering are New Mexico and West Texas to attract drillers.
![Exxon to Take Advantage of Lower Corporate Tax Rate for their Business operations](https://misspennystocks.com/wp-content/uploads/2018/01/Exxon-to-Take-Advantage-of-Lower-Corporate-Tax-Rate-for-their-Business-operations.jpg)
Exxon to Take Advantage of Lower Corporate Tax Rate for their Business operations
The CEO stated that the company has been aiming to step up its investment in these regions for the next 5 years. It can also be remembered that prior to this $50 billion investment plan, Exxon already spent around $6 billion last year in order to expand its operation in North Dakota and Permian Basin. The company envisioned that this initial investment (as well as the upcoming ones), will help boost the company’s production in the region throughout 2025.The company is also targeting to improve its infrastructure and manufacturing sites that would also help generate thousands of jobs to help their host cities and communities thrive.
Exxon Also Revealed its Other Investment Plans On Monday
Aside from the $50 billion investment in infrastructure and business operations, Mr. Woods also revealed that they’re venturing into opening other startup business. One of this is their plan to invest around $20 billion to construct chemical and liquefied natural gas facilities along the US Gulf Coast. This will also create around 20,000 jobs along the coast and the company is excited to help the community to increase their manpower as they seek to expand their business.
![Woods Shares their Business Expansion Plan for the Next 5 Years](https://misspennystocks.com/wp-content/uploads/2018/01/Woods-Shares-their-Business-Expansion-Plan-for-the-Next-5-Years.png)
Woods Shares their Business Expansion Plan for the Next 5 Years
Even if the full impact and results of this said the daring and ambitious project can only be grasp around 5-10 years from now, Mr. Woods is positive that this will drive positive impact not only to the community but for the US business industry in general. He’s positive that the recent tax reform will help not only giant businesses like Exxon but more importantly, those startup businesses to drive more capital investment and expenditures into expanding their business because of the lower corporate tax rates. He also said that this is the perfect time for the company to pursue all of its strategic projects and goals when it comes to business expansion.
Exxon Wishes to Continue Its Legacy as the Country’s Oil and Energy Giant Through the Years
Exxon took pride in being meticulous when it comes to planning their production of build-out of oil and gas not only in the US but also all over the world. This meticulous planning and careful implementation of their projects enabled them to build multibillion-dollar projects and businesses that click to the masses. This recent statement from CEO Mr. Woods, who just ascended the position last January 2017, when he replaced Chief Rex Tillerson, draws positive feedback from the mass despite the slight 1% decline on stock trading last Monday. It’s because all of their projects and businesses so far were patronized by their loyal customers.
![](https://misspennystocks.com/wp-content/uploads/2018/01/96785954.jpg.gallery.jpg)
Exxon to Expand Their Operations in New Mexico and West Texas
That’s why, whenever Exxon would plan to announce their new ventures, everyone is excited because it generally means more job opportunities for the US Citizens and its host community. It’ll also help boost the US economy. For the investor’s side, this business expansion would also mean more investments and profits for their stocks and shares as shareholders of the said company.
More in Business
-
Cap Table Management Firm Pulley Gets Featured on Forbes’s Top 50 Fintech Startups
Pulley, a San Francisco-based cap table management firm, is swiftly gaining momentum, challenging industry giants and redefining the landscape for startups...
February 27, 2024 -
Redefining Your Path: 6 Essential Steps for Career Reengineering
So, you’re at a crossroads in your career, contemplating a change that could redefine your professional path or perhaps dreaming of...
February 19, 2024 -
Unsecured Loans: A Deep Dive
When financial needs arise, borrowing money can provide a solution. But which loan products make the most sense for your situation?...
February 16, 2024 -
How to Get Back to Work After a Career Break | 5 Tried & Tested Tips
Taking a career break can feel like you have hit the pause button on a movie. The world continues to move...
February 10, 2024 -
Small-Cap Stocks Could Be Your Biggest Win in 2024 – Here’s Why
In the stock market, where titans like the S&P 500 often steal the spotlight with their record-breaking performances, it is easy...
February 3, 2024 -
4 Things We Learned From the 2024 Golden Globes: A Night of Surprises and Inspirations
The 81st Golden Globes, held on January 7, 2024, was an event that transcended the boundaries of a typical awards ceremony....
January 26, 2024 -
The Path to Wealth: How 3 Productivity Tips Led Me to Multimillionaire Heights
In the pursuit of success, one often encounters the timeless question: How do successful individuals maintain such high levels of productivity?...
January 20, 2024 -
Exciting Career Horizons in 2024: Is Now Your Moment?
As we step into the vibrant landscape of 2024, a question bubbles up in the minds of many: “Is now the...
January 9, 2024 -
Here Are the Top 5 Nickel Stocks to Buy
As you venture into the intriguing world of investing, there is a shiny sector that deserves your attention: Nickel stocks. First...
December 31, 2023
You must be logged in to post a comment Login