With upcoming elections and the major impacts of COVID-19, it has been a tumultuous year. One consistent theme has been prioritizing the U.S. economy. Many factors come into play when discussing how to do this, but reshoring has long been a hot topic for boosting jobs and increasing national resilience. Learn what the reshoring trend is and how it can potentially impact industrial real estate.
What is reshoring?
Reshoring means bringing production and manufacturing back to the U.S. (or the country of origin in discussion) from being outsourced overseas. This process can potentially boost the domestic economy by creating more jobs in the country of origin. These jobs are typically well-paying, secure positions.
Offshoring also helps the economy by rebalancing imports and exports for trade deficits within the country. From a resilience standpoint, it diversifies and creates a more skilled workforce, which is more capable of providing for the needs