The Reshoring Initiative reported that third quarter 2022 reshoring and foreign direct investments (FDI) reached record levels, registering 15% higher than the second quarter with a strong fourth quarter looking to result in a total of more than 350,000 jobs reshored for all of 2022.

Reshoring says that 2022 projection of jobs would mark a nearly 40% improvement over 2021’s total of 255,000. Since 2010, the total jobs announced would top 1.6 million.

New investments in U.S. manufacturing by domestic and foreign companies briefly slowed their historic pace in the second quarter as inflation soared, but following the passage of the Inflation Reduction Act and Chips and Science Act, investment once again resumed.

For the third year in a row, reshoring outpaced foreign direct investment (FDI), which the initiative believes reflects the peaking of globalization and U.S. incentives to bring manufacturing back. “It also indicates that U.S. headquartered companies are understanding the benefits to localized production that many foreign companies have understood for decades,” the Reshoring Initiative states.

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