We first introduced readers to the Reshoring Initiative and its founder and president, Harry Moser, in the Winter 2013 edition of VALVE Magazine. At the time, the reshoring movement was just gaining traction amongst manufacturers, so we followed up recently to see how things are going at this time.
Technically, reshoring means that American companies are bringing manufacturing back to the U.S. after moving it offshore in the past; foreign direct investment (FDI) means that a foreign company is building in the U.S. In 2014 and 2015, the rate of reshoring plus foreign direct investment equaled the rate of offshoring. That means that in total, the U.S. was bringing back as many jobs as were being sent away, “for the first time since almost ever,” said Moser. “In the preceding decade, we were losing a net 200,000 manufacturing jobs per year. It’s a good start!” An interesting development is that a lot of Chinese companies are putting factories in the U.S. to make products for the domestic market.