According to the New York Times: Companies are testing whether the United States can regain some of the manufacturing output it ceded in recent decades to China and other countries.

General Motors disclosed in December that it was considering spending upward of $4 billion to expand electric vehicle and battery production in Michigan. Just days later, Toyota announced plans for a $1.3 billion battery plant in North Carolina that will employ 1,750 people.

Micron Technology said it planned to invest more than $150 billion in memory chip manufacturing and research and development over the next decade, with a portion of that to be spent in the United States. And in November, the South Korean giant Samsung said it would build a $17 billion semiconductor plant in Texas, its largest U.S. investment to date.

“Reshoring is not going to happen overnight, but it is happening, and it’s exciting,” she said. “If you place an order offshore, there is so much uncertainty with a longer lead time. All of that adds up.”

It is unusual to see positive economic indicators paired with historic labor and supply chain challenges. But this is the trajectory for US manufacturing in 2022 emerging
from the pandemic. The recovery gained momentum in 2021 on the heels of vaccine rollout and rising demand. As industrial production and capacity utilization surpassed pre-pandemic levels midyear, strong increases in new orders for all major subsectors signal growth continuing in 2022. Deloitte projections based on the Oxford Economic Model (OEM) anticipate GDP growth in manufacturing of 4.1% for 2022.

​About the Deloitte survey:
To understand the outlook and perspectives of organizations across the energy, resources, and industrials industries, Deloitte fielded a survey of more than 500 US executives and other senior leaders in September 2021. The survey captured insights from respondents in five specific industry groups: chemicals and specialty materials, engineering and construction, industrial products, oil and gas, and power and utilities.

Source: Deloitte