Reshoring Initiative Reports Domestic Growth, Less Offshoring in 2014
The 2014 data indicate that reshoring was strongest in the Southeast and in Texas, with government incentives and skilled workforce among the cited reasons given by companies in the organization’s study of articles and case studies.
The Reshoring Initiative has published its annual data report on reshoring trends, highlighting the fact that 60,000 manufacturing jobs were brought to the United States in 2014 by reshoring and Foreign Direct Investment (FDI) combined, representing a 400 percent increase since 2003. With only 30,000 to 50,000 jobs getting offshored to other countries in 2014 (compared to some 140,000 in 2003), the resulting net gain of 10,000 or more jobs per year suggests a shift toward reshoring, the organization says, which advocates moving previously offshored jobs back to the United States.
According to the organization, some of the reasons companies gave in 2014 for reshoring and FDI included U.S. government incentives, a skilled workforce, the perceived value of a “Made in the USA” label and automation. Conversely, companies cited lower quality, long lead times, high freight costs and rising wages as reasons against offshoring. The report data also indicate that reshoring was strongest in the Southeast and in Texas, a trend consistent with other market forecasts.
Data for this report comes from the organization’s library of more than 2,000 published articles, privately submitted reshoring case studies and some other privately documented cases. Read the full report at reshorenow.org.
The Reshoring Initiative, visit reshorenow.org.
