Company/Division name | Magna International |
Parent company | Magna International, Inc. |
Type of work | Manufacturing |
If manufacturing, is the company an OEM? | Yes |
Reshoring category: | Foreign Direct Investment |
Total number of jobs (added or to be added): | 224 |
What product(s) and/or service(s) were outsourced domestically? | Manufacturing |
Year reshoring announced: | 2022 |
Domestically, the work will be done: | In-house |
Capital investment ($): | 5.9777 |
Country(ies) from which reshored: | Canada |
City reshored to: | Lancaster |
State(s) reshored to: | OH |
If relevant, work nearshored to: | - |
Industry(ies): | Fabricated Metal Products |
Product(s) reshored | metal seat structures |
What non-domestic negative factors made offshoring less attractive? | Supply chain interruption risk/Natural disaster risk/Political instability |
What domestic positive factors made reshoring more attractive? | Lead time/Time to market, Skilled workforce availability/training, Under-utilized capacity |