Reshoring Poised to Surge 38 Percent to Record High

October 4, 2021

 
MF Business Edge
 
Federated Insurance
 
 
Executive Insights
 
 
Kent Djubek
 
 
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Laurie Harbour
 
 
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Nominate Women of Excellence in Metal Forming and Fabricating 2021
MetalForming magazine is looking to recognize women in leadership positions or on the shop floor, those who represent dedication to their company and the industry, and who demonstrate excellence in meeting their workplace responsibilities. We’re seeking nominations for our 6th Annual Women of Excellence in Metal Forming and Fabricating Awards, to run as a special section in our December 2021 issue.

Nominees should be employed by a manufacturer of metal parts and components or a supplier to the industry. Here's the nomination form.
 
 
 
Ignite Safety—Not Flames
October 3-9 is National Fire Prevention Week, and the latest article on the Federated Insurance Risk Management Corner blog site encourages employers to observe it by conducting fire-safety meetings. National Fire Prevention Week, the oldest continuously running U.S. public health observance, has been promoted by the National Fire Prevention Association since the early 1920s, to commemorate the Great Chicago Fire, which started on October 8, 1871.

“Vigilant employees who know what to look for could be the reason a blaze doesn’t begin, and it all starts with educating your staff on hazardous fire risks,” says the Federated Insurance article.
 
 
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Reshoring Poised to Surge 38 Percent to Record High
The pandemic has spurred a national push to strengthen the domestic supply chain, especially for essential products, driving reshoring numbers higher. This according to a recently released report from the Reshoring Initiative.  Among the report’s key takeaways: 
  • For the second year in a row, reshoring job announcements outpaced foreign direct investment (FDI)–62 percent vs. 38 percent. Companies are focusing on their home market.
  • The number of companies reporting new reshoring and FDI also is set for a new annual record: 1800-plus companies.
  • The jobs that are coming back in transportation equipment mostly are in electric-vehicle battery production.
“Reshoring continues to be key to U.S. manufacturing and economic recovery in 2021 and beyond,” says Harry Moser, founder and president of the Reshowing Initiative. “We see the administration applying tourniquets rather than addressing the underlying issue of U.S. manufacturing cost being uncompetitive. We call on the administration and Congress to enact policy changes to make the United States competitive again.”
 
 
Addressing the Skills Gap from Another Perspective
“The assumption has been that if you build training programs for technicians in robotics or advanced manufacturing skills, then there will be jobs for those people. But that’s not actually happening, and unless SMEs invest in those new technologies, those new jobs won’t come.”

So says MIT researcher Ben Armstrong in a recent Forbes interview, following the release of a report Armstrong recently co-authored titled, “Advanced Technology, Advanced Training: A new policy agenda for U.S. Manufacturing,”

“There are two sides to the equation,” Armstrong tells Forbes: “One is the training, but the other, and where we think the start should be, is SMEs investing in more advanced equipment and advanced approaches to manufacturing, which will lead to more productive and higher-paying jobs.”
 

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