Tamil Nadu Chief Minister M.K. Stalin’s recent US trip brought several big investments to give a fresh boost to the state’s economy and employment. He inked several MoUs with companies like Eaton, Assurant, Ohmium, Apple, Google, and Microsoft.

The MoU with Eaton will bring in Rs 200 crore for the expansion of its R&D and engineering centre at Chennai, creating  500 new jobs to boost the rapidly growing technology and engineering sectors of the state.

Besides Eaton, Assurant, a global leader in providing risk management solutions, signed an MoU to establish its first Global Capability Centre in India. The Chennai facility is expected to power the company’s operations and enhance service delivery.

The CM Stalin announced another major development to secure investments in the future of the state as part of his mega mission: an agreement with Ohmium to establish a factory in Chengalpattu, with an investment of Rs 400 crore to produce electrolysers and green hydrogen, the crucial component of sustainable energy.

His visit also included meetings with top executives of tech companies such as Apple, Google, and Microsoft to discuss possible investment opportunities in Tamil Nadu. One of the highlights of this meet was the signing of an MoU with Google to build AI labs in the State, which would add to the tag of Tamil Nadu being a technology-driven economy.

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During an investors’ conference in San Francisco on August 29, 2024, CM Stalin secured MoUs with six global firms, including Nokia, PayPal, and Microchip, with a total investment of Rs 900 crore that promises to generate as many as 4,100 jobs.