Reshoring Initiative 2021 Data Report: Essential Product Industries Drive Job Announcements to Record High

In 2021 the private and federal push for domestic supply of essential goods propelled reshoring and foreign direct investment (FDI) job announcements to a record 261,000, according to a recently released report from the Reshoring Initiative.  This brought the total jobs announced since 2010 to over 1.3 million. For the second year in a row, reshoring exceeded FDI by 100 percent, in contrast to 2014 thru 2019 when FDI exceeded reshoring. Additionally, the number of companies reporting reshoring and FDI set a new record of more than 1800 companies. The report discusses the trend and how reshoring will continue to be key to U.S. manufacturing and economic recovery.

More takeaways:

•             The year-over-year increase is due almost exclusively to companies filling supply-chain gaps of essential products including electric batteries, semiconductors, PPE, pharmaceuticals, rare earths and renewable energy.

•             The computer and electronics industry has seen the largest jump in percent of jobs, due to semiconductor/chip investment.