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Unless Corporate America and the US Govt take steps to "reshore" the millions of lost jobs over the past decade, we don't have a chance of economic recovery.
If you are the owner of an existing manufacturing company, then you could do a total cost of ownership TCO analysis for component parts that you are having made offshore to see if you could "reshore" some or all of them to be made in the United States.
Despite the cooling off of reshoring in Q2, the number of North American product manufacturing companies planning to reshore production in the coming months rose back to the average maintained since Q1 '10 and offsetting the downward trend established by companies that had actually repatriated work in the past 3 months.
Finally, adopt a federal tax incentive for companies that reshore high-paying jobs.
There are also factors beyond our control that can help--or hurt--these efforts to reshore jobs: namely, the value of the dollar, shipping costs, and consumer preferences.
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