60,000 New Manufacturing Jobs from Reshoring and FDI

Reshoring, FDI Bringing Back Jobs Says Industry Group

More than 60,000 manufacturing jobs were brought to the U.S. by reshoring and foreign direct investment (FDI) combined in 2014, according to a new report from The Reshoring Initiative.

The number represents a 400% increase since 2003.

With only 30,000 – 50,000 jobs being offshored to other countries in 2014, the resulting net gain of 10,000 or more jobs per year represents a shift in the right direction.

By comparison in 2003, the U.S. lost net about 140,000 manufacturing jobs per year to offshoring.

“We publish this data annually to show companies that the trend in manufacturing in the United States is to source domestically,” said Harry Moser, president of the Reshoring Initiative. “With 3 to 4 million manufacturing jobs still off shore, we see huge potential for even more growth and hope this data will motivate more companies to reevaluate their sourcing and siting decisions.”

Why are companies returning to the U.S. and others investing here? According to the group the companies said that government incentives, the skilled workforce, capitalizing on the value of a Made in USA label, and automation were the top reasons.

One thought on “60,000 New Manufacturing Jobs from Reshoring and FDI

  1. Reshoring and FDI.

    We are seeing this right here in Ashtabula county. With over $130 million in investments in 2013/2014 by foreign companies in their Ashtabula operations. This is very significant. The questions are:
    Why Ashtabula County? What do we have that are unique to encourage such investments? The answers are easy, they lie in our past and in our geography. The companies in these cases have been in Ashtabula for decades. There is significant investment from the past and present in these facilities. To replicate them would be very expensive. Another related element is not just the investment in facilities but, the very valuable investment in personnel. The workforce would have to be staffed and developed if the company would relocate. Finally, our geography is unique. Both of these companies are chemical companies. They first located here for the water and they remain here for that same reason. It is very difficult to find such a plentiful source of freshwater.

    We in Ashtabula, as well as elsewhere in Northeast Ohio remain a favored location!

    Our greatest challenge for us to remain competitive will remain in providing a valued workforce, good natural resources, and a competitive infrastructure of roads, bridges, rail, electric, natural gas, and others.

    Like

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