New Reshoring Initiative study reports a 400% increase in reshored jobs since 2003.
According to the Reshoring Initiative, the combined efforts of reshoring and foreign direct investment is having a major impact on U.S. jobs.
In 2003, it notes, U.S. lost about 140,000 manufacturing jobs to offshoring. Last year, however, we only lost between 30,000 and 50,000.
Better still the trend brought more than 60,000 jobs back to the U.S. in 2014, resulting in a net gain of 10,000 to 30,000 new openings.
According to the group the companies said that government incentives, the skilled workforce, capitalizing on the value of a Made in USA label, and automation were the top reasons.
Reshoring was strongest in the Southeast and Texas. Much of this is attributed to the trend for companies to build "green-field" factories in states with lower wages, lower taxes and right-to-work laws, the group said.
More on the reshoring on IndustryWeek.
IndustryWeek is an NED companion site within Penton’s Manufacturing & Supply Chain Group.
In 2003, it notes, U.S. lost about 140,000 manufacturing jobs to offshoring. Last year, however, we only lost between 30,000 and 50,000.
Better still the trend brought more than 60,000 jobs back to the U.S. in 2014, resulting in a net gain of 10,000 to 30,000 new openings.
According to the group the companies said that government incentives, the skilled workforce, capitalizing on the value of a Made in USA label, and automation were the top reasons.
Reshoring was strongest in the Southeast and Texas. Much of this is attributed to the trend for companies to build "green-field" factories in states with lower wages, lower taxes and right-to-work laws, the group said.
More on the reshoring on IndustryWeek.
IndustryWeek is an NED companion site within Penton’s Manufacturing & Supply Chain Group.