Deere & Company launched a Texas-based innovation hub in 2022
In 2022, Deere & Company (Deere) launched an innovation hub in Austin, TX, thus expanding its domestic footprint and technology operations. This new location will facilitate company goals focusing on its technology capabilities ensuring growing population has access to food. As a location, Austin provides the company strategic access to potential qualified employees while enabling the city to grow as an innovation hub. Deere aims to use this facility to expand its portfolio in technology by advancing solutions such as automation and autonomy for the agriculture sector.
Balance SheetIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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