Black and Decker will not only be moving jobs to the USA, but constructing a brand new $35 million dollar factory. This is more proof that the Trump effect is in full swing and more companies are realizing it’s better to do the right thing and stay at home then pay a border tax and get lots of negative publicity.
From USA Today:
One of the nation’s best-known toolmakers, Stanley Black & Decker, said Thursday that it will move more manufacturing back to the U.S. from overseas, including construction of a new $35 million factory after acquiring the Craftsman brand from ailing retailer Sears Holdings.
Expanding American manufacturing makes “business sense” amid “pervasive” uncertainty regarding the future of U.S. trade with China and Mexico, Stanley Black & Decker CEO James Loree told investors Thursday in a conference call.
Although he did not mention Donald Trump by name in his remarks to investors, Loree hinted that the move has the side benefit of inoculating his company from the possible effects of the president-elect’s threatened “border tax,” a tariff on imports.
“It’s going to be advisable to have more manufacturing in the U.S.,” Loree said.
Obama insisted it would take a “magic wand” to bring back jobs in the USA, but it turns out Trump’s magic wand is his business experience.
All Trump needs to do to continue to keep jobs in the U.S. is to make it clear to companies the incentives will go the right way if they do. This is negotiation 101. Something so simple for a real estate tycoon, yet totally foreign to a community organizer with no private sector success. Obama had no clue.