TOLEDO, OH (WTOL) - With a new commander in chief, many employers are waiting to see what new policies will impact them.
Thursday, members of one industry came together today to see how they can Make Manufacturing Great Again.
Over two dozen representatives from local manufacturing groups met Thursday morning to go over an outlook on possible changes they could need to deal with locally with Governor Kasich's proposed budget and with changes President Trump's first 100 days could bring federally.
The macro-economic overview, hosted by the Gilmore Jasion Mahler accounting firm, attempted to put a context on what these manufacturers will face over the next two years.
Along with possible tax changes in the state budget and conceal carry changes, most of the focus was on when or even if President Trump will follow up on his drastic economic plans to create jobs and increase the GDP.
"He talked extensively about renegotiating with foreign countries." said Charlie Heid, Partner at GJM. "Well, what impact will that have on companies here in the US that export, we don't know yet."
One of President Trumps main proposed trade policies is the Border Adjustment Tax, which would increase taxes on imported goods.
If passed, this could both hinder and help manufacturers who ship products locally and internationally.
"Obviously it benefits people who are exporting things, and it also is designed to help bring some of the production facilities back into the United States, we'll have to see whether that's successful or not." said keynote speaker Kevin Depew, Director of RSM US.
The general consensus among the manufacturers here is to always have a 3 to 5 year plan that benefits both investors and employees, while also being on your toes for unseen changes from new lawmakers and administrators.
"You need to be nimble, you know, you need to be able to adjust to what's happening." said J.B. Blackwelder, CFO of VSI Global. "Political climates change, regulations change, global economies change. Terrorism has changed a lot of stuff with transportation and different rules in different markets."