John Deere chairman and CEO John May has announced the company’s commitment to invest $20 billion in the United States over the next 10 years.
The announcement, which was made during a Q2 2025 earning’s call made on May 15, reinforces the turfcare equipment company’s ongoing commitment to current and long-term strategic investments.
Deere & Co cut the lower end of its annual profit forecast on Thursday but beat Wall Street expectations for second-quarter results due to cost-saving measures and inventory management, sending its shares up 5% in early trading.
The world’s largest agricultural-equipment maker expects its annual net income to now be between $4.75 billion and $5.5 billion, compared to its prior forecast of $5 billion to $5.5 billion. Its second-quarter revenue fell about 18% to $11.17 billion from last year, compared to analysts’ estimate of about $10.8 billion.
Deere was able to cushion the blow from softer demand by reducing production and warranty-related expenses. Executives said during an earnings call that they expect tariffs to cost Deere more than $500 million in 2025 before taxes and that they were taking a measured approach to the ongoing uncertainty.
The $20 billion commitment builds on the company’s longstanding history of economic impact and manufacturing in the US, which includes $2.5 billion invested across 60 facilities across 16 states since 2019; $100 million invested in American factories in 2025, and $80 billion in US supplier investments since 2019.
Recent major projects include a 120,000-square foot expansion of the company’s remanufacturing facility in Missouri; construction of a new excavator factory in Kernersville, North Carolina; expansion of the turf equipment factory in Greeneville, Tennessee, and new assembly lines for the 9RX high-horsepower tractor in Waterloo, Iowa.
John Deere currently maintains 30,000 US-based employees and 50,000 employees at independent John Deere dealerships. It has committed to $200 million through the John Deere Foundation by 2031. In addition, it has placed 450 US military veterans into jobs.
“Through these efforts, John Deere continues to build strong local economies, expand career opportunities and support the people who build the country from the ground up,” the announcement concluded.