September 19, 2013
Although a sharp decline in U.S. manufacturing over the past se...
More and more American companies are moving their manufacturing enterprises from China back to the United States, according to a recent survey conducted by The Boston Consulting Group.
Economix reports that the main reasons behind the global shift include the growing competitiveness of U.S. labor rates, proximity to customers, product quality, skilled labor and transportation costs.
The advantages of closer proximity to customers and the higher production quality have become more persuasive to companies as well. In fact, 21 percent of 200 executives already have plans to relocate production or are considering it in the next two years.
Reshoring manufacturing enterprises in the United States will benefit a wide range of domestic industries and their employees. For this reason, now— more than ever—growing manufacturing activity requires an increase in domestic minerals mining. As the U.S. manufacturing industry regains strength, a more secure minerals supply chain will become even more necessary to support the growing demand for expanding product lines, newer technology and more advanced machinery.
Most importantly, the reshoring of manufacturing assets will hopefully set a precedent across industries to bring business enterprises back to the United States and encourage regulatory permitting reform that will allow the minerals mining industry to thrive. After all, keeping these opportunities in the United States is dependent upon providing affordable and accessible domestic minerals.