10 Companies That Are Bringing Jobs Back to America

U.S. companies are responding to Trump with a series of American job announcements

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Over the past several decades, the U.S. has lost millions of high paying manufacturing jobs — 5 million since 2000 alone. Bringing jobs back to America became a cornerstone of President Donald Trump’s election campaign, resulting in several high-profile announcements of new U.S. jobs.

There are many factors at play that have contributed to the manufacturing decline. Globalization has seen American companies like Apple Inc. (NASDAQ:AAPL) outsource virtually all of its manufacturing to Chinese factories. The North America Free Trade agreement (NAFTA), which went into effect in 1994, led to auto makers moving production of some vehicles and components to Mexico or Canada. And the recession that began in 2007 resulted in additional cost cutting by companies, including layoffs and plant closures.

We may have reached a turning point. Regardless of whether President Trump and his economic policies are having an effect or not, the fact is many companies are hiring more American workers.

Here are 10 companies that are bringing jobs back to America.

10 Companies That are Bringing Jobs Back to America: Bayer (BAYRY)

According to the Wall Street Journal, representatives from German chemical giant Bayer AG (ADR) (OTCMKTS:BAYRY) met with President-Elect Donald Trump last week.

On the table was Bayer’s planned takeover of Monsanto Company (NYSE:MON).

After the meeting, Bayer representatives announced that as part of their purchase of Monsanto, they were committing to keeping Monsanto’s 9,000 U.S. jobs in the country, plus adding 3,000 new high-tech jobs for American workers.

The promises don’t stop there. In addition, Bayer says it will direct half of a planned $16 billion in agricultural research spending over the next six years to the U.S.

10 Companies That are Bringing Jobs Back to America: Amazon (AMZN)

Amazon.com, Inc. (NASDAQ:AMZN) put out a press release on Jan. 12 announcing it will be embarking on an ambitious hiring spree.

According to Amazon, it will be creating 100,000 new jobs for American workers over the next 18 months.

More importantly, these are not part-time or casual positions. Amazon says its hiring spree will add 100,000 full-time U.S. jobs, with full benefits. Positions will range from entry-level jobs at Amazon’s fulfillment centers to engineers and software developers, and they will be located all across the country.

10 Companies That are Bringing Jobs Back to America: Ford (F)

Ford Motor Company (NYSE:F) had been planning to build a $1.6 billion factory in Mexico.

Instead, the company announced it was cancelling the Mexican car factory and added that it would invest $700 million to expand its Flat Rock Michigan factory. The money will go toward manufacturing high-tech electric, hybrid and autonomous cars and adds 700 U.S. jobs.

President Trump had singled out the planned new Mexican plant for criticism prior to the election, but Ford says the decision to kill it was based primarily on declining demand for the smaller automobiles that the plant would be produced.

Either way, that’s more American workers and one less foreign factory investment for the country’s second largest auto maker.

10 Companies That are Bringing Jobs Back to America: IBM (IBM)

One of the most widely recognized names in the technology industry plans on reversing course, hiring a huge number of U.S. workers after years of outsourcing jobs overseas.

International Business Machines Corp. (NYSE:IBM) has spent years transitioning its business away from PCs and into IT services. Along the way, it has jettisoned thousands of U.S. workers in favor of hiring support staff based in countries where labor is cheap, such as India.

In May 2016 the company announced another round of U.S. layoffs, described by employees as “massive.”

But by the end of the year IBM’s strategy had changed, in dramatic fashion.

In December, IBM CEO Ginni Rometty announced her company had plans to invest $1 billion in the U.S. over the next four years, and that it will be filling 25,000 new U.S-based positions.

10 Companies That are Bringing Jobs Back to America: Walmart (WMT)

Wal-Mart Stores Inc (NYSE:WMT) claims to be the largest private employer in the country, with nearly 1.5 million American workers.

The company previously announced a $6.8 billion capital investment plan back in October, but this week — in the spirit of President Donald Trump’s calls to create U.S. jobs — Walmart put out a press release outlining details as part of its “2017 goals for American job growth and community investment.

Look for Walmart to hire 10,000 new retail employees. In addition, the company estimates that the construction or remodeling of stores, distribution centers and other facilities will support a further 24,000 construction-related jobs.

10 Companies That are Bringing Jobs Back to America: Sprint (S)

Sprint Corp (NYSE:S) has been rather vague about the details of its plans, but the company insists that it will be responsible for 5,000 new U.S. jobs.

Sprint made the initial announcement in December. It confirmed that the 5,000 new positions were in addition to 5,000 hires it had announced in April — that earlier deal included the opening of new stores plus a fleet of vehicles for delivering smartphones to customers.

It’s possible that some of these 5,000 positions will work for contractors instead of directly for Sprint, but whoever ultimately signs their paychecks, they will be American workers.

10 Companies That are Bringing Jobs Back to America: Lockheed Martin (LMT)

Count Lockheed Martin Corporation (NYSE:LMT) among the companies committing to hiring more American workers.

The CEO of the aerospace and defense contractor met with President Donald Trump last week. After the meeting, Lockheed Martin announced that besides lowering the cost of the F-35 fighter jet, the company will hire an additional 1,800 workers at the Texas plant where the airplane is built.

In addition to the direct hires, Lockheed Martin pointed out the ripple effect that it expects will create “thousands and thousands” of supply chain jobs across the U.S.

10 Companies That are Bringing Jobs Back to America: Hyundai (HYMLF)

Yet another auto manufacturer is planning to hire more American workers in the near future, but this one’s a foreign company: Hyundai Motor Co (OTCMKTS:HYMLF).

The South Korean auto maker announced it will boost its spending in the U.S. by 50% over planned levels, spending $3.1 billion over the next five years.

That money will go to retooling Hyundai’s existing U.S. factories and research into high-tech systems such as autonomous vehicles. Hyundai said it is also considering building a new factory specifically to build premium vehicles for the U.S. market.

The company didn’t give specific number for job creation, but with that kind of expenditure — and the possibility of a new factory — it’s definitely going to be more jobs for American workers.

10 Companies That are Bringing Jobs Back to America: General Motors (GM)

General Motors Company (NYSE:GM) put out a press release touting planned and past investments in its U.S. operations, including an additional $1 billion to spent on manufacturing this year.

GM says the $1 billion will be spent on “multiple new vehicle, advanced technology and component projects” and will result in 1,500 new or retained jobs.

450 of those will move from Mexico to Michigan when GM “insures” pickup and SUV axle production.

Making a point of past investments, GM says it has spent over $21 billion on its U.S. operations since 2009, including $2.9 billion in 2016. Those moves it says have resulted in over 25,000 new U.S. jobs in the past four years — including 6,000 in manufacturing.

There were some stumbling blocks recently — for instance, GM announced the layoffs of over 1,200, people at a Lordstown, Ohio, plant. But GM says ongoing insourcing of its IT needs, engineering streamlining and growth in its financial services division will pay off in an additional 5,000 new U.S. hires over the next several years.

10 Companies That are Bringing Jobs Back to America: Carrier (UTX)

Finally, the company that President Donald Trump used as the starting point for his push to begin bringing jobs back to America: Carrier.

A division of United Technologies Corporation (NYSE:UTX), Carrier announced in February 2016 that it was shuttering a furnace and heating equipment plant in Indianapolis, sending its 1,400 jobs to Mexico. Then campaigning to be the Republican presidential candidate, Donald Trump seized on the move as being a classic example of free trade agreements costing American workers their jobs.

The situation made even bigger headlines at the end of November when President Trump announced he had reached a deal with Carrier to keep 1,000 of those jobs in Indianapolis.

That’s not quite the same as hiring, but the deal did bring 1,000 jobs back to America and kickstarted a high-profile movement among companies — like Ford and Walmart — that are anxious to be seen as part of the growing movement to create U.S. jobs.

As of this writing, Brad Moon did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2017/01/10-companies-bringing-jobs-back-to-america/.

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