Hyundai Motor Co. announced Tuesday that it plans to invest up to $3.1 billion in expanding its US production and research facilities.

It is also considering building an additional factory, which would create thousands of permanent, full time jobs.

Hyundai’s President Chung Jin-Haeng told a group of reporters in Seoul, S Korea that:

The US market is crucial to our success as a global auto maker. We will continue to expand our presence in the key market. Our investment will also help the US efforts to create more jobs.

This is far from an isolated incident.

Companies ranging from US Steel to Amazon have announced billions in new investments in response to brightening economic conditions, and Donald Trump’s twitter campaigns—now dubbed the “Trump Effect”.

Automakers Announce Over $23 Billion New Investments In 2 Months