According to Assembly Magazine, the volatility and uncertainty resulting from trade wars and the COVID-19 pandemic, coupled with increased consumer demand for faster delivery, customization and responsiveness, is helping to promote reshoring and foreign direct investment (FDI) in the United States. Reshoring and FDI are both motivated by the same logic: the agility and financial advantages that companies achieve by producing near their customers.
Three industries that are reshoring, and probably should not have left in the first place, are transportation equipment, computers and electronics, and electrical equipment and appliances.
In January, GE Appliances announced that it would add up to 150 jobs at its oven assembly plant in LaFayette, GA, due to surging demand during the COVID-19 pandemic. “We’ve definitely seen significant volumes,” says Lois Crandall, plant manager. “We have double-digit increases in sales right now.”
Read more HERE
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