IEDC’s Reshoring American Jobs project – supported by the Economic Development Administration – has been reaching out to companies and EDOs to study the trend of firms bringing previously offshored jobs back to the United States.
To highlight our work, IEDC board chair JoAnn Crary wrote about the project in Expansion Solutions Magazine and 2016 Chair Barry Matherly penned an article for Site Selection (page 82).
Why are companies returning from overseas? IEDC’s research has identified six major factors, including:
- Faster speed to market
- Flexibility in inventory
- Increasing cost of doing business abroad
- Better labor quality and productivity
- Quality assurance
- Demand for “Made in the USA” products
However, IEDC’s research indicates that most companies that have reshored did so without help from an EDO. Several free tools are available to help economic developers bring more jobs home.
Access Costs Everywhere Tool: An analytical framework offered by the Department of Commerce that compares business costs domestically and abroad.
Total Cost of Ownership Estimator: A free tool from the Reshoring Initiative that quantifies the often hidden costs of operating abroad.
BusinessUSA: A one-stop shop for federal resources relating to business.
U.S. Cluster Mapping: Provides detailed data on various cluster types and locations.
National Excess Manufacturing Capacity Catalog: Lists available manufacturing sites across the country.