There are many reasons for American manufacturers and their American customers to reevaluate offshoring and consider reshoring. Companies are increasingly recognizing that costs, risks, tariffs and strategic impacts previously ignored are large enough to overcome the shrinking emerging market wage advantages. They are seeing the benefits of proximity, i.e. producing in the market, especially when the home market is the U.S., still the world’s largest. Key Takeaways:
1. Reshoring and foreign direct investment (FDI) have brought over 1 million manufacturing jobs to the U.S. since 2010; 2. Florida OEMs and contract manufacturers can both benefit from the trend; 3. Results of the Reshoring Survey show how companies are benefiting; Understand the use of total cost of ownership (TCO) for buying and selling smarter.