KILDEER, IL—Last year, combined reshoring and foreign direct investment (FDI) announcements surged, adding more than 171,000 jobs to the U.S. economy. That figure represents 90 percent of the 189,000 total manufacturing jobs added in 2017, claims the Reshoring Institute.
“[We attribute this] huge increase to anticipation of greater U.S. competitiveness due to expected corporate tax and regulatory cuts following the 2016 election, “ says Harry Moser, president of the Reshoring Initiative. “Similar to the previous few years, FDI continued to exceed reshoring in terms of total jobs added, but reshoring has closed most of the gap since 2015.
“The numbers demonstrate that reshoring and FDI are major contributing factors to the country’s rebounding manufacturing sector,” claims Moser.
“We publish this data annually to show companies that their peers are successfully reshoring and that they should reevaluate their sourcing and siting decisions,” adds Harry Moser. “With 3 to 4 million manufacturing jobs still offshore, as measured by our $500 billion a year trade deficit, there is potential for much more growth.
“We call on the Trump Administration and Congress to enact policy changes to make the United States competitive again,” says Moser. “Our Competitiveness Toolkit is available to help quantify the impact of policy alternatives, including a stronger skilled workforce, continued corporate tax and regulatory reductions, and a lower U.S. dollar.”
To learn more about the toolkit and reshoring, click www.reshorenow.org.