Signs point to a potential surge in domestic manufacturing, and US companies are carefully watching seven key factors that are impacting the trend. They also need to consider what a potential move or expansion of manufacturing facilities to the US could mean for all aspects of their business.
Domestic industrial output has been slowly rising over the last three years. And many of the reasons that compelled US manufacturers to flock to off-shore factories two decades ago—low labor costs, moderate fuel and energy costs, and strength of the US dollar—are beginning to trend the other way. Is the US experiencing a cyclical, post-recession recovery, or are we in the early stages of a manufacturing renaissance? While the answer to that question will only be revealed over time, manufacturing companies have plenty to begin thinking about today: What are the most important factors affecting this trend, and how could a US manufacturing renewal affect all areas of their business—from supply chain and site selection to tax and talent.
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