As the new administration prepares to take office, domestic manufacturing continues to be one of the hottest stories in the business world. This blog outlines some of the newer angles around the trend.
Overseas operations bringing jobs home
Trump promised many manufacturers he’d make it easier for factories to operate in the U.S. and this promise has inspired several to come home. Trans-Lux, a New York-based LCD and LED display maker is one company considering relocating its Chinese facilities to the U.S. as stated in this article. The company owner is quoted saying Trump’s tough talk on protecting domestic manufacturing helped him to move more quickly than before.
Chinese manufacturers moving to the U.S.
Chinese manufacturers are moving some of their operations to the U.S. to become more competitive and build the American market. CNN reported that in October, Chinese garment maker Tianyuan Garments Co., the producer for big brands including Reebok, Adidas and Amrani, acquired a metal fabrications plant in Little Rock, Arkansas. This makes it the second Chinese company within six months to expand production to the U.S. The factory is expected to open in late 2017.
Abandoned factories: a hot commodity
Abandoned factories and warehouses, long overlooked due to the dwindling needs of industry, are being renovated and rebuilt as new businesses move in. CNN Money ran this feature on the trend. Notable examples include vacant lots becoming perfect venues for urban agriculture; the low ceilings and open spaces create a perfect environment for growing herbs and vegetables. And in Pontiac, Michigan, an Asian robotics firm retrofitted an old GM plant.
Incentives and alternatives
Trump has been vocal about offering tax incentives to encourage manufacturers to consider or adopt domestic manufacturing. But not every company is biting. Fox Business News offers an update on Apple’s reluctance to abandon its overseas operations here. This piece in the Huffington Post explores other strategies Trump could employ to bring ’em home.