Is reshoring manufacturing to the U.S. the solution to preventing the serious supply chain blockages factories faced when Covid struck, and to creating new American jobs? Companies need to think deeply about the answer – and act soon, if they decide to go ahead, a new report from Cushman & Wakefield suggests.
"Reshoring" has been a popular buzzword under the Biden administration, "In the first quarter of 2023, S&P companies that mentioned 'reshoring' during earnings calls were up 128% year-over-year," the report noted.
"Reshoring and foreign direct investment manufacturing job announcements exceeded 360,000 in 2022, a record-breaking 53% increase from 2021. Since 2020, private companies have announced $470 billion in manufacturing and clean energy investments – in addition to the $220 billion announced by the federal government."
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