Editor's Note: Will Corporate Optimism Be Sustained?
Policies yet to be implemented by the Trump administration could affect the current mood of corporate optimism — for better or worse.
Q1 2017
Nonetheless, countering the promised corporate tax cuts is Trump’s threat to slap tariffs on companies that move jobs overseas and then import their products back to the U.S. Although this measure has not been clearly defined, it could meet with corporate resistance, as noted by Michael R. Strain of the American Enterprise Institute in a recent New York Times article.
President Trump has also promised to create 25 million new jobs, many of which will be in the factories he plans to bring back to U.S. shores. However, as noted by Scott Paul, president of the Alliance for American Manufacturing, “The offshored jobs President Trump has promised to return will not look like those that left. Manufacturing industries change rapidly, and so do the skill sets they require of workers upon entry.”
Many companies are already struggling to find workers to fill today’s high-skill manufacturing jobs. Bureau of Labor Statistics figures confirm that 325,000 manufacturing jobs were unfilled in December 2016. And 80 percent of the 400 U.S. executives, most of whom are with manufacturing firms, recently surveyed by human resources consultancy Randstad Sourceright say a shortage of sufficiently skilled workers will affect their ability to hire in the coming year.
Additionally, many skilled workers in the U.S. today are working under the H1-B visa program, which is due to come under a lot of scrutiny by the Trump administration. How the new administration addresses the issues of immigration and workforce training, as well as trade agreements, offshoring, and other concerns remains to be seen, but it will ultimately affect the sustainability of corporate optimism, plans for growth, and business competitiveness.
Project Announcements
Amgen Expands New Albany, Ohio, Manufacturing Operations
04/28/2025
United Kingdom-Based Balmoral Tanks Plans Mentor, Ohio, Operations
04/28/2025
E & E Hardwoods Expands Bell County, Kentucky, Saw Mill Operations
04/27/2025
Aegis Sortation Expands Louisville, Kentucky, Operations
04/26/2025
Process Machinery Expands Shelby County, Kentucky, Production Operations
04/26/2025
HL Mechatronics Expands Williams Township, Michigan, Operations
04/26/2025
Most Read
-
Run a Job Task Analysis
Q4 2024
-
The Location Economics of Advanced Nuclear
Q1 2025
-
39th Annual Corporate & 21st Annual Consultants Surveys: What Business Leaders and Consultants Are Saying About Site Selection
Q1 2025
-
NEW NIMBYism: A Threat to The U.S. Economy
Q4 2024
-
Why Workforce Readiness Can’t Wait
Q1 2025
-
Power, Policy, and Site Selection in 2025
Q1 2025
-
Forging Solid Foundations
Q1 2025