Company/Division name | Magna International |
Type of work | Manufacturing |
Reshoring category: | Foreign Direct Investment |
Total number of jobs (added or to be added): | 1050 |
Year reshoring announced: | 2023 |
Year reshoring implemented or to be implemented: | 2025 |
Domestically, the work will be done: | In-house |
Capital investment ($): | 790 |
Country(ies) from which reshored: | Canada |
City reshored to: | Stanton |
State(s) reshored to: | TN |
If relevant, work nearshored to: | - |
Industry(ies): | Electrical Equipment, Appliances & Components, Transportation Equipment |
Product(s) reshored | auto parts, components |
What non-domestic negative factors made offshoring less attractive? | Supply chain interruption |
What domestic positive factors made reshoring more attractive? | Eco-system synergies, Higher productivity |