Whirlpool to invest $300 million in Ohio plants, creating up to 600 jobs

OHIO - Whirlpool Corporation (NYSE:WHR), currently trading near its 52-week low at $73.14 and down over 33% year-to-date according to InvestingPro data, announced plans to invest $300 million in its laundry manufacturing facilities in Clyde and Marion, Ohio, creating between 400 and 600 new jobs.

The investment aims to increase production capacity for the company’s next generation of washers and dryers while supporting approximately 5,000 additional jobs outside the company. This expansion comes as InvestingPro analysis shows Whirlpool generating $15.52 billion in revenue, though facing challenges with gross profit margins of 16.3%.

Whirlpool’s Clyde facility, operating since 1952, is described as the world’s largest washing machine plant. The Marion dryer factory recently marked its 70th anniversary in September.

"Whirlpool Corporation’s unwavering commitment to American manufacturing is a cornerstone of our identity," said a company representative in the announcement.

The Michigan-based appliance manufacturer, which began operations in the United States in 1911, maintains the largest U.S. manufacturing operations in the home appliance industry. The company reports that approximately 80% of its U.S. major appliance sales come from products made in its American factories.

Kristin Day, Vice President of U.S. Manufacturing at Whirlpool, stated that the investment "builds on that legacy, enhancing our manufacturing capabilities."

The project will receive financial assistance from JobsOhio and tax credits from the State of Ohio, pending final approval. These incentives will support workforce development and operations at both Ohio facilities.

Over the past decade, Whirlpool has invested $6 billion in U.S. capital expenditures, research and development, and new product development. The company currently employs 20,000 people in the United States, including over 14,000 at its ten manufacturing plants. Despite recent market challenges, InvestingPro analysts project improved profitability this year, with additional insights available in the comprehensive Pro Research Report covering this $4.08 billion market cap company. Notably, Whirlpool has maintained dividend payments for 55 consecutive years, demonstrating long-term financial commitment to shareholders.

In other recent news, Whirlpool Corporation reported a stable financial performance for Q2 2025, despite a slight decline in net sales. The company’s ongoing earnings per share (EPS) were recorded at $1.34, impacted by a non-cash loss from BEKO Europe. Whirlpool has updated its full-year guidance, maintaining flat net sales and revising its EPS range to between $6 and $8. Additionally, the company announced a significant investment of $300 million in its Ohio plants, which is expected to create between 400 and 600 new jobs. This investment aims to enhance production capabilities for next-generation washers and dryers. In other developments, Whirlpool’s board of directors declared a quarterly dividend of $0.90 per share, payable on December 15, 2025. These recent developments indicate a period of strategic investment and financial stability for the company.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.