SARASOTA, FL—Reshoring activity and foreign direct investment (FDI) job announcements in 2022 were at the highest rate ever recorded. According to the Reshoring Initiative, that’s because manufacturers in a variety of industries continue to rethink their supply chains.
Announcements accelerated even more than anticipated due to the Chips and Infrastructure Acts and deglobalization trends. The 364,000 reshoring and FDI jobs announced last year accounted for a 53 percent increase from 2021’s record. Electrical equipment was the top industry, driven by a huge increase in domestic battery manufacturing.