Articles Tagged with ''reshoring''

Reshoring + FDI job announcements in 2022 were at the highest rate ever recorded.

In 2021, the private and federal push for domestic supply of essential goods propelled reshoring and foreign direct investment (FDI) job announcements to a record high. Projections from Reshoring Initiative® 1H 2022 data show reshoring and FDI continuing these gains.

The Data Report discusses the trend and how reshoring will continue to be key to U.S. manufacturing and economic recovery.

As baby boomer engineers retire from manufacturing, younger generations aren’t rushing in to fill their shoes. Rapidly changing technology has created greater demand for new skills among shrinking pools of talent, just as reshoring efforts promise to make domestic manufacturing even more robust.
This is why the field’s well-documented skills gap will only widen.

Quality is the most frequently cited reason for reshoring manufacturing to the United States. According to the Reshoring Initiative’s 2017 Data Report, quality cost ranked number one as the most frequently mentioned negative factor experienced offshore from 2010 through 2017.

Everybody knows that our jobs have been going overseas. It’s been happening since the ‘80s and for decades nobody did much to stop it. In recent years people have recognized this as a problem for the structural soundness of the American economy and have begun taking action to reverse it.

The award honors a company that has effectively reshored products, parts or tooling made primarily by metal forming, fabricating or machining.