Oh my, another company is coming back to the United States!
Donald Trump's win in November was the final nudge for one manufacturer to move its production back home from China.
For over a year, New York-based Trans-Lux -- which makes LCD and LED displays -- has contemplated relocating its Chinese facilities to the U.S.
"It makes economic sense," said J.M. Allain, president & CEO of Trans-Lux, which also makes the huge digital screens that run the tickers at the New York Stock Exchange.
To cut costs, the company exported much of its production two decades ago to Shenzhen in southeast China, a manufacturing hub for electronics. But as China's economy developed, conducting business there has become increasingly expensive for foreign firms.
"Compared to 1997, labor costs are much higher, shipping costs are monstrous and it's very hard to find a new facility to expand our production," said Allain.
About 60% of Trans-Lux's production was already in the U.S. -- in a 68,000-square-foot plant that employs 75 people in Des Moines, Iowa. Trans-Lux had been planning to shift more production back to the U.S., and a few months ago it begin using a refurbished former Ford Motor factory in St. Louis, Missouri.
But in the final run-up to the election, as Trump beefed up his tough talk on protecting domestic manufacturing at all costs, Allain considered making a change much sooner.
"Earlier this year, we didn't think Donald Trump would win," said Allain. "But we closely watched his campaign and listened to his protectionist rhetoric. His win forced us to reevaluate our plans in China."
Now with Trump's win, Allain said the company is accelerating its move back to the U.S., with the goal to make all of its products in America within a year.