Reshoring and foreign direct investment in the U.S. increased 38% during 2018, resulting in 145,000 jobs. Quality, freight cost, and total landed cost of product are key drivers behind this growing trend of reshoring.
Global MFG - Jun 4, 2019
Reshoring Resulted in 145,000 Jobs During 2018American Machinist Staff | Foundry Management & Technology
Reshoring and foreign direct investment in the U.S. increased 38% during 2018, the highest level in history according to the Reshoring Initiative, the agency formed to advance the effects of "reshoring." The term describes the phenomenon of manufacturers relocating manufacturing activity and services, or sourcing, to the U.S. from overseas. For 2018, the combination of reshoring and FDI represented 145,000 jobs, the second highest annual rate of job increases on record. The total job increases credited to reshoring, including upward revisions of 36,000 jobs in prior years, is over 757,000 since the 2010 low-point for domestic manufacturing employment.