Sarasota, Fla.—A newly released report from The Reshoring Initiative showed 244,000 U.S. manufacturing jobs were announced in 2024 via a combination of reshoring and foreign direct investment (FDI). The data, according to the report, provides evidence of the nation’s push to rebuild domestic production capacity as companies weigh rising geopolitical risk and supply chain vulnerabilities. It also reflects growing bipartisan support for American industrial competitiveness.
Since 2010, more than 2 million jobs have been announced as U.S. companies and foreign investors bring manufacturing closer to U.S. customers. During that same timeframe 1.7 million jobs have been filled.
Other key findings from the report:
- Reshoring by U.S.-headquartered companies outpaced FDI by foreign-headquartered companies by the largest margin on record in 2024.
- High-tech industries are driving growth: 88% of 2024 jobs were in high or medium-high tech sectors, rising to 90% in early 2025.
- Industries that led in 2024: computer & electronics, electrical equipment (including EV batteries and solar) and transportation equipment.
- Texas, South Carolina and Mississippi are top 2025 states for reshoring/FDI.
- Asia remains the largest source of reshored + FDI jobs, while South Korea, China and Germany led among individual countries.
- Tariffs are now a key motivator: Cited in 454% more cases in 2025 vs. 2024. Government incentives cited 49% less as previous subsidies phase out.
“Reindustrializing America is impossible without reshoring, FDI and strong industrial policy,” said Harry Moser, president of The Reshoring Initiative. “Our data shows tremendous progress, but the U.S. must address workforce shortages and manufacturing cost disadvantages to maintain this momentum.”
Indeed, workforce constraints loom large, according to Moser, who in a recent article emphasized the importance of a well-rounded U.S. manufacturing strategy. U.S. manufacturing apprenticeships rose 83% over the past decade, according to Moser, but far more skilled workers are needed to sustain reshoring growth, he stressed.
2025 outlook
Early 2025 data projects a potential drop to 174,000 announced jobs for the year. However, that figure could climb rapidly if firms gain confidence in the permanence of new tariff and industrial policies, according to Moser. Many large tentative announcements are contingent on clearer signals from the administration, he noted.
While the reshoring effort continues to gain momentum, there are inherent risks, according to Moser. Chief among them: policy uncertainty is delaying investment decisions; potential retaliatory tariffs could dampen U.S. export opportunities; and low-tech industries remain under-reshored, leaving U.S. supply chains vulnerable for mass-market consumer goods. Without comprehensive reforms, Moser noted, U.S. manufacturing costs remain 10%–50% higher than offshore competitors, driving most import decisions.
The Reshoring Initiative is advocating for a smarter industrial policy focused on the following:
- Massive investment in skilled workforce development (modeled after German apprenticeships).
- A 20% lower USD to improve global cost competitiveness.
- Retention of immediate expensing of capital investments.
- Smarter use of tariffs and Total Cost of Ownership (TCO) analysis to drive lasting reshoring.
While early 2025 job announcements are trending lower, policy stability could quickly unlock another wave of reshoring-driven investment. “The U.S. can’t count on tariffs alone to restore its industrial leadership,” Moser stated. “It must level the cost playing field and build a skilled workforce to truly compete and win globally.”
View the full 2024 report at ReshoreNow.org.
