Reshoring surges to record high, says Reshoring Initiative report

Despite COVID, reshoring numbers were up in 2020, according to The Reshoring Initiative’s 2020 Data Report. The report also shows that reshoring and foreign direct investment (FDI) job announcements for 2020 were 160,649, bringing the total jobs announced since 2010 to 1,057,054.

Also of significant importance is that reshoring exceeded FDI by nearly 100%, the first victory for reshoring since 2013. And the number of companies reporting new reshoring and FDI was 1,484—a new record.

To make the U.S. less vulnerable, there now are national initiatives to shorten and close supply chain gaps for essential products. Medical equipment and PPE are the first responders of new reshoring and FDI, with cases up nearly 2,000% and jobs up 400% from 2019.

The Reshoring Initiative anticipates 2021 reshoring and FDI job announcements to be near 200,000, up by at least 25%.