Back in the 1980s, the term “offshoring” became a business buzzword as more and more U.S. companies moved manufacturing to foreign countries, typically to save on labor costs. In recent years, “reshoring” has been added to the lexicon as companies decide to bring manufacturing back to the U.S., for various reasons. In 2020, reshoring created more U.S. jobs than foreign direct investment (FDI) for the first time in seven years, according to data collected by the Reshoring Initiative. Read the full article.
Source: Area Development