The number of U.S. manufacturing jobs created by reshoring activities and foreign direct investment increased in 2020 – hitting a total of 160,649 – according to the Reshoring Initiative’s 2020 Data Report.
Of this total, 109,000 jobs were directly related to bringing offshoring production to the U.S. It’s the first time reshoring outpaced FDI in seven years.
2020’s activity brings the total number of reshoring and FDI job announcements to over 1 million since 2010.
The 1,484 companies taking part in reshoring and FDI last year represent a record high.
The industries experiencing the most activity include PPE, medical, tech and defense.
The Reshoring Initiative is anticipating 2021 totals to be even higher – possibly exceeding the 200,000-job level.