SoftBank's First U.S. Investment After Trump Talk Generates 3,000 Jobs
- Japanese tech giant puts $1 billion into OneWeb satellite firm
- Startup to hire engineering, manufacturing, support staff
SoftBank to Invest $50B in the U.S.
SoftBank Group Corp. Chief Executive Officer Masayoshi Son told President-elect Donald Trump this month he would create 50,000 jobs in the U.S. Money for the first 3,000 positions was announced on Monday.
Satellite startup OneWeb Ltd. said it raised $1.2 billion from SoftBank and existing investors, with the Japanese technology company providing $1 billion. The round will fund the development of small, low Earth orbiting satellites and pay for the construction of a facility in Florida that will churn out 15 of these devices a week, said OneWeb, based at Exploration Park, Florida, an area near Kennedy Space Center. The investment is expected to create almost 3,000 new engineering, manufacturing and support jobs in the U.S. over the next four years, the startup added in a statement.