There are still huge opportunities and challenges to bringing back all the 3 to 4 million manufacturing jobs cumulatively lost to offshoring. The rate of job return announcements doubled in November 2016 and hit an all-time peak monthly record in January 2017. Clearly, government policy changes and expectations of those changes are key to accelerating the trend. Overview The Reshoring Initiative’s 2016 Reshoring Report contains data on U.S. reshoring and FDI by companies that have returned U.S. production or sourcing from offshore. The report includes cumulative data from 2010 through 2016, as well as highlights from the first quarter of 2017. In comparison to 2000-2003, when the United States lost, net, about 220,000 manufacturing jobs per year to offshoring, 2016 achieved a net gain of 27,000. The tide has turned. The numbers demonstrate that reshoring and FDI are important contributing factors to the country’s rebounding manufacturing sector. The overall trend was up from 2015 due to anticipation of potential policy changes that will make the United States more competitive, continued rising wages overseas, and increased use of total cost of ownership for sourcing decisions. “We publish this data annually to show companies that their peers are successfully reshoring and that they should reevaluate their sourcing and siting decisions,” said Harry Moser, founder and president of the Reshoring Initiative. “With 3 to 4 million manufacturing jobs still offshore, as measured by our $500 billion/year trade deficit, there is potential for much more growth. We call on the administration and Congress to enact policy changes to make the United States competitive again. Our Competitiveness Toolkit is available for them to quantify the impact of policy alternatives, including: stronger skilled workforce; lower corporate taxes and regulations; and lower U.S. dollar.” A Deeper Dive into the Reshoring Data
For full details, read the complete report: Reshoring Initiative Data Report 2016: The Tide Has TurnedAbout The Reshoring Initiative Data for this report comes from the Reshoring Initiative Library of more than 4,000 published articles, privately submitted reshoring case studies and privately documented cases. The report provides data and analysis in 10 different categories, ranging from the number of manufacturing jobs gained, to reasons cited for reshoring, to a breakdown of data by industry, country, region and state. It also includes data on the nearshoring trend (Canada and Mexico). A 50-year manufacturing industry veteran and retired President of GF AgieCharmilles, Harry Moser founded the Reshoring Initiative to move lost jobs back to the U.S. For his efforts with the Reshoring Initiative, he was named to Industry Week magazine’s Manufacturing Hall of Fame in 2010. Additional information on the Reshoring Initiative is available at www.reshorenow.org. The Initiative’s many sponsoring associations and companies are also acknowledged on the site. Editor’s Note: If you require source materials for articles that discuss trends in trade (reshoring and offshoring or imports and exports) or skilled manufacturing workforce and how these topics relate to domestic manufacturing, please contact Harry Moser at 847.726.2975 or email@example.com. # # #
Beth LawrenceContent & Media Manager dgs Marketing Engineers 317.813.1937 Direct 317.813.2222 Main Website: www.dgsmarketing.com About dgs Marketing Engineers dgs Marketing Engineers is the leading business-to-business advertising agency for industrial manufacturers in North America. We help companies craft unique brand identities, sell complex products, and build lifetime customer relationships.