Abbott Plans $500 Million Investment, Adding 300 Jobs in Illinois, Texas

Abbott Laboratories announced a $500 million investment to expand its manufacturing and research facilities for its diagnostics transfusion business, with new projects in Illinois and Texas expected to add up to 200 and 100 jobs, respectively. These expansions aim to strengthen Abbott’s ability to screen the U.S. blood supply and tap into the growing market for advanced blood-screening technologies. The company’s investment comes amid newly imposed and threatened U.S. tariffs on medical devices, which CEO Robert Ford estimates could cost Abbott a few hundred million dollars this year and in 2025. Despite these financial headwinds, Abbott reported strong first-quarter sales and earnings, reaffirming its annual profit guidance and expressing confidence in its ability to mitigate tariff impacts. The company cited its ongoing commitment to U.S. innovation, referencing nearly $15.7 billion invested in domestic manufacturing and R&D over the past five years. Wall Street responded positively to the news, with Abbott shares rising following the announcement.