Marketplace has an article quoting the Reshoring Initiative, who noted that American companies are on pace to reshore nearly 350,000 jobs this year, the highest number in recent history.

As we have said in this blog for some time, global manufacturing and logistics have seen lots of hiccups recently, helping to motivate the movement back to the U.S.

Additionally, the pandemic repeatedly shut down factories in China, while fires and flooding have done the same in Japan and Thailand. There was that ship that got stuck in the Suez Canal. Add in skyrocketing shipping costs.

The U.S. will not become a leader in manufacturing apparel or toys. But it is gaining jobs in high-tech manufacturing for things like semiconductors and electric vehicle batteries.

David Simchi-Levi, a data scientist at the Massachusetts Institute of Technology, said tensions between the U.S. and China and legislation like the CHIPS and Science Act and the Inflation Reduction Act will incentivize manufacturing in this country.

Read more here.