Reshoring Initiative Background
What is the Reshoring Initiative?
The Reshoring Initiative® is the leading voice in making the case to companies that it is often in their interest to bring manufacturing jobs back to the United States or keep existing jobs here. We promote reshoring (insourcing, onshoring, rightshoring, and backshoring) and FDI (Foreign Direct Investment) and provide tools and support for companies evaluating sourcing locations. Our efforts have brought us to the White House, Congress, and more than 25 state manufacturing conferences. We’ve been quoted in Businessweek, the Wall Street Journal, and the Economist among other publications. The Reshoring Initiative is a thought leader on how local sourcing and production strengthens the U.S. economy and has been recognized as an industry expert by the Department of Commerce.
The success of reshoring and FDI bringing back hundreds of thousands of jobs over the past six years is good proof that millions more will be reshored when the U.S. becomes competitive with other countries. We advocate for actions to achieve competitiveness e.g.: more and better skilled workforce, lower USD and corp taxes.
The Initiative currently has 25 sponsors including major manufacturing trade associations and technology suppliers. We’ve participated in more than 400 forums and conferences around the world on manufacturing, outsourcing, reshoring, and workforce development. (All of our programs and tools can be accessed on our website www.reshorenow.org.)
The Reshoring Initiative created the Total Cost of Ownership Estimator® - a free online tool that helps companies account for all relevant factors — overhead, balance sheet, risks, corporate strategy and other external and internal business considerations — to determine the true total cost of ownership. We make the TCO Estimator available freely on our website and we advise companies on how to use the tool and its findings. Customers use the Estimator to assist them in their evaluation of sourcing options. Domestic contract manufacturers use the Estimator as an objective sales tool against offshore competitors.
We also have the world’s only database and sortable library of 3,700+ articles relating to reshoring. Using this information, companies can better evaluate sourcing, identify alternatives and determine which sources best meet their company’s profitability and strategic objectives. While focusing primarily on manufacturing, the Initiative has data on 39 cases of technology services reshoring and 30 cases of call center reshoring.
Over the past few years, the Reshoring Initiative has used the strength of the manufacturing reshoring trend to show America’s youth that manufacturing is a sustainable and growing career. Our Skilled Workforce Program outlines the actions required to improve skilled workforce in the U.S.