Abbott Laboratories will add up to 200 more jobs in Chicago area, expects tariffs to cost ‘a few hundred million dollars’

Abbott Laboratories is planning to hire up to 200 additional employees in the coming years to expand production in the northern suburbs of Chicago. This news coincides with the company’s efforts to address the effects of tariffs. According to spokesperson Kate Dyer, the company is creating jobs and increasing production at a facility located at its Abbott Park campus.

In an earnings announcement on Wednesday, the company revealed its intention to invest $500 million in new manufacturing and research and development ventures in Illinois and Dallas, Texas. These investments are expected to be operational by the end of this year. Dyer emphasized Abbott’s ongoing commitment to investing in American innovation, citing significant investments in manufacturing, equipment, and research and development in recent years.

The decision to bolster production comes amidst President Donald Trump’s imposition of higher tariffs on countries worldwide, aimed at stimulating manufacturing and job growth in the United States. Abbott’s CEO and Chairman, Robert Ford, acknowledged during an investor call that the tariffs could result in a financial impact of several hundred million dollars in the latter half of the fiscal year. Despite the challenges posed by tariffs, Ford expressed confidence in the company’s ability to manage and mitigate their effects, given its extensive global manufacturing network.

In addition to medical devices and baby formula, Abbott produces a wide range of other products. Stay tuned for further updates.