How reshoring and nearshoring manufacturing facilities helps businesses foster economic resilience, mitigate disruption and more
Guide
17 July 2024
U.S. manufacturing revival: trends, challenges and opportunities
Watch the full video here, or access topical clips from the discussion by clicking or tapping on the plus signs below.
Are companies focusing their reshoring efforts in the U.S., or in North America more broadly? (1:52)
Every company has different requirements, but many international companies look at North America as a whole when they begin their search for industrial real estate located closer to U.S. consumers. Mexico is growing rapidly as a manufacturing hub, but the U.S. is leading the way in clean energy production, an important factor for companies with ambitious sustainability goals.
Companies often have multiple North American countries as links in their supply chain. For example, they may manufacture some components in Mexico or Canada but perform final assembly in the U.S. Having these different nodes eliminates the risk of having a single point of failure, ultimately supporting resiliency.
What sectors are poised to benefit from nearshoring and reshoring? (4:43)
Much of today’s reshoring activity involves industries that went overseas decades ago. However, we also see lots of activity around emerging technologies and clean tech, such as EVs, battery storage, mobility solutions and hydrogen production.
The aerospace industry is also very active, with substantial investments pouring into drone and defense projects. But the most capital is going to the semiconductor sector. The U.S. has granted billions of dollars in incentives to Intel, Micron Technology, Taiwan Semiconductor Manufacturing Company and other companies to grow or reestablish their production footprints in the U.S.