Reshoring is a hot topic in manufacturing these days, and a potential opportunity for Ashtabula County.
Many companies are already doing it, and according to a recent BCG study, 54 percent of companies with over billion in revenues are now considering it. Walmart has pledged to spend $250 billion over the next 10 years for U.S.-made goods to be sold in their stores, and this will drive even more companies to reshore. It’s good for America. It’s good for Ashtabula County’s future. But it’s a road full of potholes, according to experts.
What the news articles and interviews rarely describe are the failures — the projects that went sour and the teams that failed. Reshoring is not a simple task of comparing costs in the U.S. versus some foreign location. Reshoring may also require a significant investment in the renewal and updating of aging factories in America. These “Bring Manufacturing Back” initiatives have many moving parts and require careful planning and execution and very skillful project management.
We need to help more companies reshore manufacturing operations in Ashtabula County and help them do it right!