Many economists are skeptical, but finance expert, Brian Bonar believes that the labor market may look healthy under the Trump administration. Unemployment claims remain low, and it looks like many companies plan on adding thousands of full-time jobs in the United States.
Donald Trump has been creating pressure on American companies, warning about impending penalties for companies moving jobs across our borders, and the threat appears to be working.
Tech company Amazon says it plans on creating an additional 100,000 full-time positions this year, and according to Forbes, Walmart announced they plan on adding 10,000 jobs to the American workforce. “If these large companies follow through with adding jobs the workforce could grow to over 200,000 by next year,” said Dalrada CEO Brian Bonar. Amazon has already increased a number of fulfillment centers in several states, however, many of those centers are being outfitted with robots.
“Companies are in a great position to reap the rewards of tax breaks, yet this could become a downfall if not careful, as what just happened to Warren Buffet’s company in Attleboro,” Bonar points out. Bonar is speaking of the Biz Journal story about the Buffet-owned Richline Group that must repay to the state $400,000 in economic tax breaks because they didn’t hire the number of employees they initially promised. Many states will award significant tax breaks because a company will pledge to hire and retain a specific number of jobs.
However, if the company fails to meet those numbers, they must repay the tax incentives. Historically, states give companies a bit of leeway and resist asking for tax repayments, however, under the Trump administration, it seems like a likely scenario. Thus, companies touting job creation plans should follow through.
For more than decade, Brian has championed business process outsourcing to his clients, and his finance and business expertise has motivated business owners to embrace the benefits. He’s been a strategic risk-taker with industry knowledge and is recognized for his talent.
Bonar hold a Master’s Degree from Stafford University and Bachelor’s from James Watt Technical College, and has 30+ combined years of experience in the finance and business industry. Embracing values of integrity and leadership, and growing valued business partnerships, Bonar was honored with the Executive of the Year award in Finance from Cambridge Who’s Who.
As a standout leader and businessman, Brian Bonar has a reputation for being a revenue-generating guru, with vision and this translates into programs that grow, sustain, and motivate.