That’s up roughly 20% from record levels in 2013 and a fourfold increase since 2003.
“The bleeding of manufacturing jobs to offshore has stopped,” the authors wrote. “In the last decade, the U.S. has gone from losing about 140,000 manufacturing jobs per year to gaining 10,000 or more per year. There are still 3 to 4 million manufacturing jobs offshore, a huge potential for U.S. economic growth.”
Those U.S. companies who reshore are particularly keen on the homegrown image of a “Made in USA” label, as well as the opportunity to automate and redesign their products in this country, TRI says. Reasons against offshoring include lower quality, longer lead times, higher freight costs and rising wages. Foreign firms are also investing here because they want to take advantage of government incentives and a skilled workforce.
Reshoring in 2014 was strongest in the Southeast and Texas because of the region’s lower wages, lower taxes and right-to-work laws. Reshoring is balanced between high- and low-tech jobs, while foreign direct investment is stronger in high-tech.
The top industries for reshoring include transportation equipment, electrical equipment, appliances and components, computers and other electronic components. Foreign direct investment is more heavily weighted toward transportation equipment because of the ongoing investment in automotive assembly plants and related suppliers.
More than half of the reshoring came from operations that had been in China, followed by Mexico and developing countries, as well as Canada, likely due to a recent period of high currency value. However, not as many U.S. companies with operations in Europe are reshoring, likely due to less rapid wage gains, low intellectual property risk and higher quality of goods produced there.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
