There is a lot of conversation right now about reshoring, but not about its relevance to small and medium-sized manufacturing firms. The basic premise of reshoring is easy to understand – bring jobs back to America by encouraging companies currently offshoring to “reshore” and purchase labor or materials from a U.S. firm. This in turn benefits the local economy and stabilizes the buyers’ supply chain by not relying on overseas partners.
Reshoring and keeping strong domestic supply chains are an even greater imperative based on what we have learned in the COVID crisis. One way to address reshoring is to focus on imported items. That's why IMEC is partnering with the Reshoring Initiative to provide a fully-funded opportunity for small and mid-sized manufacturers (SMMs) to play a vital role in import substitution for the components they can supply right here in Illinois.