For over a year, New York-based Trans-Lux --
LCD and LED display--
China's facilities have been considered for relocation to the United States. S.
"It makes sense economically," J. M.
President and CEO of Trans-Allain
Lux has also made huge digital screens on the New York Stock Exchange.
To reduce costs, the company exported most of its products 20 years ago to Shenzhen, southeast China, which is the manufacturing center for electronics.
But with the development of China's economy, the cost of foreign companies doing business in China is getting higher and higher.
"Compared to 1997, labor costs are much higher, transportation costs are huge, and it is difficult to find a new factory to expand our production," Allain said . ".
Chinese manufacturers are opening stores in the United States. S.
About 60% across
Lux products are already available in the US. S. --in a 68,000-square-
A foot factory with 75 employees in Des Moines, Iowa. Trans-
Lux has been planning to transfer more production to the United States. S.
A few months ago, it began using the refurbished Ford Motor plant at the San Ford Motor plant.
Louis, Missouri
But the last one.
Ahead of the election, Trump stepped up his tough rhetoric to protect domestic manufacturing at all costs, and Allen considered making changes as soon as possible.
"Earlier this year, we didn't think Donald Trump would win," Allen said . ".
But we followed his campaign closely and listened to his protectionist comments.
His victory forced us to reassess our plans in China.
"Now that Trump wins, Allen says the company is speeding up its return to the United States. S.
The goal is to produce all its products in the United States within a year.
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In 96 years of innovation, Lux's manufacturing industry has left a deep impression.
It was a pioneer in electronic stock technology and installed its system on the New York Stock Exchange in 1923.
"When you say big board, that's us," Allen said . ".
"We are still managing it today, making us the longest-serving provider on the NYSE. " Trans-Lux --
Annual income of $25 million--
Also make screens at major league stadium, high school scoreboard and Vegas gaming venues.
However, the iconic digital screen of the New York Stock Exchange is made in China.
Bring production back to the United StatesS.
In addition to reducing costs, there are other advantages.
"At the end of the day, American manufacturing brands also have a reputation," he said. "The United States abandoned factories in the event of strong demand.
Lux is not the only company to reconsider foreign manufacturing.
Last week, Trump helped reach an agreement to keep about 800 factory jobs at an airline factory in Indiana, Mexico.
Carrier, which makes air conditioning and heating systems, said incentives provided by Indiana were key to its decision-making.
The incentives worked but ended up running out, Allain said. He said the U. S.
If companies want to support the domestic manufacturing industry effectively for a long time, they need to solve the cumbersome tax problem.
Trump also said he would impose a 35% heavy tax on businesses that transfer production overseas and sell products in the USS.
Allain said: "political rhetoric, mainly from the Republican side, whether it's from candidate Trump or Congress, really motivates us to act faster, start new facilities and shift production here.