The manufacturing industry in the United States is experiencing a significant increase of reshoring. The construction of new manufacturing facilities has increased by a 116% in the past year compared to the 10% growth in new real estate construction. Intel, GE Appliances, Ford, and General Motors are some of the American companies in the process of returning the production and manufacturing to the United States.
To talk about this topic is Andrea Noris, Senior Associate at BMV, in his latest article for ISPI (Institute for International Policy Studies), "The Revival of American Manufacting".
"The manufacturing industry is composed by several subsectors, including transportation, machinery and household appliances. These are among the sectors with the majority of production overseas and now they're trying to return to the United States," Noris explains.
"If U.S. companies are bringing their production back to the US or Mexico, European companies seem to be targeting Central and Eastern Europe for relocation. Germany and Poland seem to be the preferred destinations so far, followed by France and Italy. However, bringing production back to these countries means having to review the significant investments made previously in offshoring, and being able to deal with a market where labor costs are higher and specific skills seem to be lacking."
To learn more about this trending topic, read the full article at the following link:
