The Revival of U.S. Manufacturing
The reshoring trend in the U.S. mechanical and metalworking sectors is gaining momentum. Construction of new manufacturing facilities has increased by 116% over the past year, compared with 10% growth in new real estate construction overall. Intel, GE Appliances, Ford and General Motors are among the companies that have begun bringing part or all of their production back to the United States.
Andrea Noris, Senior Associate at BMV, discusses this development in his article for ISPI – Italian Institute for International Political Studies, entitled The Revival of U.S. Manufacturing.
“The mechanical engineering sector includes several subsectors, including transport equipment, machinery and household appliances. These were among the industries that had most extensively relocated production abroad and are now among the main sectors involved in reshoring production to the United States,” Noris explains.
And in Europe?
“While U.S. companies are bringing production back to America or Mexico, European companies appear to be focusing mainly on Central and Eastern Europe. Germany and Poland currently seem to be the preferred destinations, followed by France and Italy. However, bringing production back to these countries means revisiting the substantial investments previously made to support offshoring strategies, while also addressing markets where labour costs are higher and specific skills may be lacking precisely because those same skills had previously been sought in countries from which companies are now trying to move away, such as China.”
To learn more, read the full article here:
The Revival of U.S. Manufacturing
Contact Information
