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Main image for Carrier Gets State Incentives, Trump Pledge for Keeping U.S. Jobs
News|Quote

Carrier Gets State Incentives, Trump Pledge for Keeping U.S. Jobs

Reuters

11.30.2016

United Technologies Corp’s (UTX.N) Carrier unit said on Wednesday it got financial incentives from Indiana and a pledge from President-elect Donald Trump to improve the climate for business in the United States in exchange for keeping more than 1,000 jobs in the state rather than moving them overseas.

The heating and air-conditioning unit of the industrial and military conglomerate did not give a value for the financial incentives, but a source briefed on the matter said it was a fraction of the $65 million that Carrier planned to save by moving production to Mexico.

The deal, an outline of which was announced late on Tuesday, is a win for Trump as he seeks to make good on his popular campaign message of persuading companies to keep jobs in the United States. More details are expected on Thursday when Trump visits the Carrier plant in Indianapolis.

Trump’s intervention in the Carrier case raises the question of whether he will step in whenever manufacturing jobs are lost. By negotiating a deal with one company, Trump could come under pressure to do similar deals with other companies, said Alex Major, a partner at law firm McCarter & English.

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