August 2022 E-News, Part II: 1H 2022 Data Report: Amidst Global Risks Reshoring Accelerates
Reshoring Initiative 1H 2022 Data Report
The Reshoring Initiative 1H 2022 Data Report shows reshoring and FDI continuing gains. The current projection of jobs announced by year-end is around 350,000, another record high, up from 260,000 in 2021. The second quarter slowed moderately but is still above the rate of any previous year. Supply chain gaps, the need for greater self-sufficiency and the threat of China decoupling are some of the factors driving the increase in reshoring. Read the full Reshoring Initiative 1H 2022 Data report: Multiple Supply Chain Risks Accelerate Reshoringfor detailed analysis of data on jobs, companies, industries, factors at play and more. The release earned a half page article in the August 20th Wall Street Journal.
Bringing Back the Guts of American Manufacturing “Sachin Shivaram, chief executive officer of Wisconsin Aluminum Foundry, and Harvard Class of 2003, reports from Wisconsin on the state of manufacturing today and policies to revive the economy of his home state.”
Tesla Lobbying Ontario Government To Set Up EV Manufacturing FacilityTesla Inc is lobbying the Ontario government as part of an effort to set up an advanced manufacturing facility in Canada and working to identify opportunities for industrial facility permitting reforms. EV makers in the United States are looking to source materials and build cars closer to home to diversify supply chains and lower their dependence on China. That effort could accelerate due to the Inflation Reduction Act of 2022.