5 things Trump victory will mean for the Dayton region

Credit: DaytonDailyNews

Caption
News Center 7 Daybreak breaks down the election night timeline and Donald Trump's victory.

Credit: DaytonDailyNews

The election of Donald J. Trump as the next president of the United States will have a big impact on this region in the coming years if the president-elect makes goods on his promises.

Here are a few things that will impact the Dayton region:

MILITARY

Ohio is home to some 63,500 military jobs, including more than 26,000 at Wright-Patterson Air Force Base, the state’s largest single site employer.

“The Ohio defense facilities alone contribute about $11 billion overall to the state of Ohio and each of these facilities is responsible for managing much more,” U.S. Rep. Mike Turner, R-Dayton, and a House Armed Services Committee member has said. “So, our opportunity to grow our impact in this state is significant.”

>>>RELATED: What Trump win means for the military?

Trump has pledged to rebuild America’s military, which he has characterized during the campaign as depleted and a “disaster.” During the Commander in Chief forum last month, Trump claimed that under President Obama and former Secretary of State Clinton’s leadership “the generals have been reduced to rubble.

ExploreHERE’S WHAT LOCAL MILITARY EXPERTS SAY

TRADE

The Dayton region includes a number of companies that must compete against companies from foreign countries, namely the steel industry and manufacturing. This could help companies like AK Steel in West Chester Twp., which employs more than 2,000 at its steel mill in Middletown.

>>>RELATED: What Trump told Dayton business owners.

Trump has said he wants to declare China a currency manipulator because of its past efforts to push down the value of the yuan, bolstering its exports at the expense of U.S. shipments to China. Trump has threatened to slap tariffs of 45 percent on Chinese imports and 35 percent on Mexican products, and opposes the Trans-Pacific Partnership deal with Pacific Rim countries.

HEALTHCARE

Trump has said he will quickly work with Congress to “repeal Obamacare.” This type of action could have an impact on a company like CareSource, which is the largest private company in downtown Dayton.

Over the past five years, company-wide employment at CareSource has grown from 1,200 to 3,100 in four states — including 860 new employees added in the past year alone — while membership in its health plans has grown to more than 1.5 million.

>>>RELATED: CareSource growing in Dayton

Much of the company’s growth can be attributed to its roll-out of private health plans through federal Health Insurance Marketplaces under the Affordable Care Act, and the expansion of Medicaid in Ohio in 2014.

IMMIGRATION

Immigration was the defining and most polarizing issue in the presidential campaign. Trump has called for building a wall along our border with Mexico and has referred to Mexicans as murderers and rapists. He has called for a total ban on Muslims from entering the country and implicated American Muslims as complicit in terrorism.

>>>RELATED: Immigration drove support for Trump in Dayton

The city of Dayton has had a very open policy to immigration efforts in the past decade, but only 4 percent of the state is foreign-born — roughly a third of the national average. And of that tiny group of immigrants, fewer than one in five is here without the necessary papers, according to a report by the Migration Policy Institute.

BUSINESS

Trump intends to significantly reduce marginal tax rates, increase standard deduction amounts, repeal personal exemptions and cap itemized deductions, Bob Williams, senior fellow at the Urban-Brookings Tax Policy Center at the Urban Institute, told the Associated Press.

His proposal would cut taxes at all income levels, although the largest benefits, in dollar and percentage terms, would go to the richest households, according to the Tax Policy Center (TPC). According to TPC’s analysis of his tax plan, on average, households throughout the income distribution would see their tax bills go down.

Economists have said a Trump victory followed by market volatility and risk-off posturing, which is happening today, could decrease the likelihood of a Fed rate hike in December.

The Associated Press and Reporter Barrie Barber contributed to this story.