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Where have manufacturing jobs gone and why aren’t they coming back?
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Sandy Montalbano
March 24, 2016 at 5:26 pm
Manufacturing is in fact returning from offshore. We have gone from losing about 140,000 manufacturing jobs per year in 2003 to net breakeven in 2014 and 2015. That is huge progress to celebrate!
By getting companies to understand all of the benefits of local production and by adopting a more comprehensive total cost analysis, we could cut the trade deficit by 25% and bring back 1 million manufacturing jobs.
Companies are recognizing that with the use of the refined metrics of total cost of ownership (TCO) to uncover the hidden costs and risks of offshoring and by reducing costs with sustainable strategies such as robotics, innovation, automation and LEAN, they can increase competitiveness and manufacture in the U.S. profitably.
The time is right to make more Made in USA products available to U.S. consumers.
The Reshoring Initiative Can Help
In order to help companies decide objectively to reshore manufacturing back to the U.S. or offshore, the not-for-profit Reshoring Initiative’s free TCO Estimator can help corporations calculate the real P&L impact of reshoring or offshoring. https://www.reshorenow.org/tco-estimator/