A major policy of Donald Trump’s presidential campaign was promising he would bring more business to the United States so that more jobs could be created domestically. Allegedly, it is the President Elect’s meetings with IBM, a Japanese businessman, and Boeing that has created multi million dollar deals potentially bringing in thousands of jobs to the United States.
Now there are two more businesses to add to that list. They include both Tesla and Panasonic. They have both announced their intent to begin manufacturing in Buffalo, New York. Both companies announced this passed Tuesday their plan to begin the production of solar cells in the city.
Both organizations have finalized an agreement for Panasonic, which is Tokyo owned, to pay the capital costs for the purposes of manufacturing. While Tesla, which is Palo Alto, California based, established a long term purchase commitment. But their joint statement to the press did not mention any specific numbers.
The factory in Buffalo, New York being used is currently under development by the SolarCity Corp. It is a San Mateo, California based solar panel company which Tesla owns as part of their umbrella. Tesla will begin the process of making photovoltaic cells and modules that are used in solar panels for non solar roof products. The statement read the following.
It appears production will begin in mid 2016. The process will reportedly create 1,400 new jobs in Buffalo. 500 of which are in manufacturing. Should their be continued success their are talks of further expansion. Both Panasonic and Tesla are also in the business of working together to create next generation technology.
The state of New York has committed $750 million to help build and outfit the plant on the RiverBend site in Buffalo. It is the centerpiece of Governor Andrew Cuomo’s “Buffalo Billion” program. The program seeks to revitalize the city in the northern part of the state.
While there are no direct links to the President Elect it does not take a rocket scientist to figure out how the market works. The stock market is already nearing 20,000. Businesses and corporations see the advantages of doing business in the United States because of Donald Trump. People feel the incoming administration will be more business friendly and the stock market is showing that hope and enthusiasm. Tesla and Panasonic are just the latest in a plethora of businesses who see that doing things Trump’s way is the most economically friendly.