Big Job Gains in 2024 Due to Reshoring and Foreign Investment
June 12, 2025Comments
The Reshoring Initiative 2024 Annual Report shows that 244,000 U.S. manufacturing jobs were announced in 2024 via reshoring and foreign direct investment (FDI). Since 2010, more than two million jobs have been announced as U.S. companies and foreign investors bring manufacturing closer to U.S. customers, driven by rising geopolitical risk, supply-chain vulnerabilities and growing bipartisan support for American industrial competitiveness, according to Harry Moser, president of the Reshoring Initiative.
“Reindustrializing America is impossible without reshoring, FDI and strong industrial policy,” he says. “Our data show tremendous progress, but the United States must address workforce shortages and manufacturing-cost disadvantages to maintain this momentum.”
Reshoring by U.S.-headquartered companies outpaced FDI by foreign-headquartered companies by the largest margin on record in 2024, the report offers, with high-tech industries driving reshoring growth—88% of 2024 jobs were in high- or medium-high-tech sectors, rising to 90% in early 2025. Leading growth industries in 2024: computers and electronics, electrical equipment (including electric-vehicle batteries and solar), and transportation equipment. Other report findings: Asia remains the largest source of reshored and FDI jobs, while South Korea, China and Germany led among individual countries; and tariffs now are a key motivator, cited in 454% more cases in 2025 vs. 2024.
While, early-2025 report data projects a potential drop to 174,000 announced jobs for the year, that figure could climb rapidly if firms gain confidence in the permanence of new tariff and industrial policies. Many large tentative announcements are contingent on clearer signals from the Trumpf administration.
To achieve and maintain a strong U.S. industrial base, the Reshoring Initiative advocates for a true national industrial policy focused on massive investment in skilled workforce development; a 20% lower U.S. dollar to improve global cost competitiveness; retention of immediate expensing of capital investments; and smarter use of tariffs and total-cost-of-ownership analysis to drive lasting reshoring.
See also: Reshoring Initiative
Technologies: Management
