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UTX CEO says Trump is handling business ‘in a way the last administration had never done’

UTX CEO says Trump relationship with business different than Obama

United Technologies CEO Greg Hayes says that, since the election, an increase in consumer sentiment has reflected positively in the company's bottom line.

"The current administration has reached out to business in a way the last administration has never done," Hayes told "Mad Money" host Jim Cramer on Friday.

"I think getting a chance to go to the White House to have your voice heard is very, very important and I think the Trump administration is trying to do the right thing to bring jobs back to America, to grow the American economy and we're certainly supportive of all of those things."

Hayes confirmed that its Otis Elevator business has the largest backlog seen since 2007. In fact, the only problem Otis is facing is finding enough people to install the elevators.

In the beginning of the year, Hayes anticipated the U.S. economy would grow about 2 percent. Those numbers are thrown out the window now, and he could even see it going to 3 percent now because of the impact that positive consumer sentiment has had on business.

Watch the full interview here:

UTX CEO says Trump is handling business ‘in a way the last administration had never done’

While the Trump administration has prioritized repealing and replacing the Affordable Care Act, Hayes said his No. 1 priority for the year is tax reform. The company has approximately $6 billion in cash overseas currently, and another $31 billion permanently reinvested. About half of its earnings stem from overseas.

"If we get tax reform done this year and if we get an infrastructure bill, if we get some regulatory reform; I think you are going to see some real momentum in the economy," Hayes said.

Hayes anticipates using the cash from tax reform to make additional investments in its aerospace business, commercial business, research and development and hiring. He remained very bullish on aerospace.

"We are positive on the house blueprint as it's laid out. It's got some good things; it's got some bad things. But on the whole, this lower rate down to 20 percent. The ability to access our foreign cash with a territorial system – those are all very positive for UTC," he said.

United Technologies is a diversified industrial company that makes elevators, aerospace components such as engines, as well as climate control equipment and security systems. It is the parent company to Carrier, Pratt & Whitney, among others.

The company came under the spotlight while President Trump was on the campaign trail after he criticized plans for Carrier to close two Indiana plans and move production to an existing manufacturing facility in Mexico.

After a conversation with Trump, Carrier announced it would keep more than 1,000 jobs, but still close another Indiana plant and send about 700 jobs to Mexico. This was widely regarded as one of Trump's first victories on his agenda before becoming President.

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