In 2020 reshoring is exceeding foreign direct investment (FDI) in job creation. Reshoring will continue to be key to manufacturing growth and to U.S. economic recovery in 2021 and beyond. From 2010 through 2019 over 900,000 reshoring and FDI manufacturing jobs have been announced. Allowing for a conservative two-year lag, over 600,000 will have been hired. This figure accounts for 44% of the 1.41 million increase in U.S. manufacturing jobs since the manufacturing employment low in 2010, and 5% of total 12/31/19 manufacturing employment of 12.9 million.
The 2019 combined reshoring and FDI announcements totaled more than 117,000 manufacturing jobs, the third highest pre-revision annual rate on record. Additionally, the number of companies reporting new reshoring and FDI in 2019 was at the second highest annual level in history, 1,100 companies. The numbers demonstrate that reshoring and FDI are major contributing factors to the country’s rebounding manufacturing sector.