Reshoring Initiative® 2020 Data Report: Two Milestones: Reshoring Surges to Record High. Cumulative Jobs Announced Surpasses 1 Million
Sarasota, FL, June 1st, 2021 — Despite COVID, reshoring numbers were up in 2020. Reshoring and foreign direct investment (FDI) job announcements for 2020 were 160,649, bringing the total jobs announced since 2010 to over 1 million (1,057,054). Also of significant importance: reshoring exceeded FDI by nearly 100%, the first beat for reshoring since 2013. Additionally, the number of companies reporting new reshoring and FDI set a new record: 1,484 companies. Reshoring will continue to be key to U.S. manufacturing and economic recovery in 2021 and beyond.
About the ReportThe Reshoring Initiative’s 2020 Data Report contains data on U.S. reshoring and FDI by companies that have shifted production or sourcing from offshore to the United States. The report includes data for 2020, cumulative data from 2010 through 2020, as well as projections for 2021. The report provides data and analysis in 10 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. See the full report:
Top Takeaways from the Report
“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 5 million manufacturing jobs still offshore, as measured by our $900 billion/year goods 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 to help quantify the impact of policy alternatives, including a stronger skilled workforce, competitive corporate tax and regulatory structures and a lower U.S. dollar.”
About the Reshoring InitiativeA 50-year manufacturing industry veteran and retired President of GF Machining Solutions, 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 and its many sponsoring associations and companies is available at www.reshorenow.org. # # # The Reshoring Initiative provides the media with custom analyses of specific regions or industries. Contact Harry Moser to inquire. --- MEDIA CONTACTS: Harry Moser President Reshoring Initiative® 847.867.1144 Harry.Moser@reshorenow.org or dgs Marketing Engineers® Chuck Bates, Public Relations Director 317.813.2230 firstname.lastname@example.org