ARGYLE Haus Founder and CEO, Houman Salem, had the high honor of being an invited guest to the White House on September 7th to discuss tax reform with the Trump Administration. As part of a select group of business leaders and entrepreneurs, Salem spoke on the subject of tax reform from a California manufacturer’s prospective. The group included other business leaders in technology, real estate, finance, and retail.
Salem advised the administration on the prowess of the California manufacturing sector globally and what tax reform will mean to small and large companies in the State. He also took the opportunity to enlighten the Administration on the size and scope of the Los Angeles-based fashion and apparel industry and the challenges it faces with local and state policy makers and regulations.
“The fashion and apparel industry, as it currently stands, brings $17 Billion worth of economic activity to the Los Angeles region alone. The industry employs roughly 250,000 people in Southern California, representing over $6 Billion in annual payroll. Brands from all over the World are coming back to the USA for manufacturing, and as for apparel, they are rushing to Los Angeles. The problem is that we only have about 2,000 factories currently in operation, where we once had over 9,000. Tax reform will be critical to help what remains stay in business in one of the most regulated industries in the one of most regulated States.” – Houman Salem
Salem looks forward to working further with the Trump administration in an effort to make American manufacturers more competitive on global scale.