Eight out of 10 American consumers would prefer to buy American made products, proving once again that American manufacturing plays an important role in our marketplace. Despite past headlines expressing concerns about job outsourcing, 60,000 manufacturing jobs were added back into the U.S. just last year, compared to 12,000 in 2003.
Reshoring and foreign direct investment account for the majority of these newly created U.S. jobs. Caterpillar and GE are among the top companies who spearheaded these reshoring movements, both of which are valued customers of SigmaNEST.
So what does this mean for you and your shop? 60 percent of the consumers who are looking to buy American made products are willing to pay up to 10 percent more for these products. Therefore, there is money and value in American manufacturing. While the effects of these recent changes will not be felt overnight, there are a few factors that are speeding up the process.
- Transportation and Energy costs
Although the transportation costs of raw materials and finished products from foreign countries to the United States is increasing, it is being offset by lower operating costs of factories. The offset of these two trends creates a generally favorable condition for US production and manufacturing.
- Labor Costs
Jobs were originally outsourced to places like China in attempt to save companies money, however the recent trend in developing wages are causing companies to re-shore its labor.
Although labor has been historically cheaper in foreign countries, the U.S. still has a more skilled workforce.
With all evidence pointing towards American soil for a steady increase in manufacturing, it’s a great time to hop on the Made in America bandwagon. At SigmaNEST, we realize that many of our customers are small business, family-owned job shops. We too, are family-owned and have always believed in the value of the small shops and large corporations who use our product.
SigmaNEST is proud to be a strong supporter of the Made in America trend. Our software is developed and perfected right here from our Cincinnati, Ohio headquarters. We recognize the value of American made products and we plan to continue to support America’s manufacturing sector.
Are you interested in learning more about SigmaTEK’s American made products? Click here to learn more.