Sarasota, FL, September 20th, 2021 — The pandemic has spurred a national push to strengthen the domestic supply chain, especially for essential products, driving reshoring numbers higher. If 2H2021 progresses at the same rate as 1H2021, reshoring and foreign direct investment (FDI) job announcements for 2021 are projected to be over 220,000 – 38% above an excellent 2020 and, by far, the highest yearly rate recorded to date.
Top Takeaways from the Report
Reshoring continues to be key to U.S. manufacturing and economic recovery in 2021 and beyond. We see the administration applying tourniquets rather than addressing the underlying issue of U.S. manufacturing cost being uncompetitive. The Reshoring Initiative offers the Biden administration our help in developing essential policies. 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 ReportThe Reshoring Initiative’s 1H2021 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 1H2021 data and projections for 2021 full year. The report provides data and analysis in categories ranging from the number of manufacturing jobs gained, to a breakdown of data by industry, country and state. “We publish this data semiannually 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.” About the Reshoring Initiative A 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 email@example.com