"Reshoring" (i.e., relocation, the reverse process of offshoring) allows companies to take advantage of available incentives, use skilled labor and do innovation while protecting intellectual property. For some companies, being able to use gas at very low costs makes the United States far more "cost effective" than other countries where electricity and coal costs are considerably higher. Eliminating import tariffs and reducing transportation costs can also increase profitability, making it possible to reduce prices for the end consumer and finance new research and development projects.
Entrepreneurs are therefore carefully analyzing the overall costs of offshoring versus reshoring and understanding that the return on investment is greater in the latter case.
Hundreds of U.S. companies are relocating within national borders. Most of the jobs "brought back" to the United States come from Asia (mainly China) and in fairly significant numbers also from Mexico and other countries. The U.S. states that have benefited most in terms of jobs created (or recreated) are:
South Carolina 7,780
Michigan 6,721
California 6,014
Kentucky 4,612
Texas 3,712
Many experts and economists predict that the "reshoring" trend is just beginning and expect that the U.S. will produce more manufacturing goods within its borders in the coming years and that U.S. entrepreneurs will continue to reevaluate contingent opportunities in light of the latest changes taking place globally and the effects they have on the benefits of producing in the U.S. instead of abroad. Harry Moser, President of the Reshoring Initiative points out that there are 3 to 4 million jobs remaining outside the United States that represent potential for "reshoring."
The manufacturing sector in general can certainly benefit from reshoring processes both in terms of better management of financial resources and image.
Entrepreneurs are therefore carefully analyzing the overall costs of offshoring versus reshoring and understanding that the return on investment is greater in the latter case.
Hundreds of U.S. companies are relocating within national borders. Most of the jobs "brought back" to the United States come from Asia (mainly China) and in fairly significant numbers also from Mexico and other countries. The U.S. states that have benefited most in terms of jobs created (or recreated) are:
South Carolina 7,780
Michigan 6,721
California 6,014
Kentucky 4,612
Texas 3,712
Many experts and economists predict that the "reshoring" trend is just beginning and expect that the U.S. will produce more manufacturing goods within its borders in the coming years and that U.S. entrepreneurs will continue to reevaluate contingent opportunities in light of the latest changes taking place globally and the effects they have on the benefits of producing in the U.S. instead of abroad. Harry Moser, President of the Reshoring Initiative points out that there are 3 to 4 million jobs remaining outside the United States that represent potential for "reshoring."
The manufacturing sector in general can certainly benefit from reshoring processes both in terms of better management of financial resources and image.