According to the Reshoring Initiative, current reshoring and foreign direct investment rates are on pace to create over 220,000 jobs this year.
This is a 38 percent increase from 2020 and the highest yearly increase on record.
Essential products – computer chips, EV batteries, PPE, pharmaceuticals and rare earth elements - represent 28 percent of the total.
Over 1,800 companies reported new reshoring and FDI jobs - also a new record.
The Computer and Electronics industry is projected to see the largest jump (8 percent) due to chip investments.
Ohio, Arizona and Tennessee have seen the most job announcements, with 19 states seeing more than 2,000 new jobs from reshoring or FDI.
The leading country of origin for these reshored jobs is Korea. The Reshoring Initiative believes that the rate of jobs coming from China (7th on the list) is being underreported.
Check out the full report at the link below.