In 2007 off-shoring of American manufacturing plants began in earnest. By 2009 the 14 million U.S. jobs that existed prior to the recession, 1,985,000 were lost, according to David Fessler, an investment analyst.
With every manufacturing job loss came at least eight downstream jobs or up to 15.9 million jobs which disappeared in just three years.
Not only are American companies coming back now but companies from the Far East are coming to take advantage of Middle America states for these primary reasons:
l) Plenty of well-trained Americans are looking for work.
2) Oil and natural gas in cheap supply made available now in
the U.S. by horizontal drilling and hydraulic fracking.
3) U.S. has one of the greatest transportation systems on the planet. (Thank you, Dwight Eisenhower for bringing the idea of the interstates after you saw how successful the autobaum was in Germany during WWII).
Some Asian companies are already here. Nissan has nine facilities, seven of which are located in the U.S. Three of Toyota’s six plants are here in Middle America states. Honda has been here since l979 with 32 plants in the U.S. making cars, ATV’s, power equipment and motorcycles.
One of China’s biggest electronic manufacturers, the Lenovo Group, has a fulfillment center in Whitsett, N.C. and plans to begin manufacturing operations there this year.
Autral Limited is an Australian-based shipbuilding company and is located in Mobile, Ala, with one of the most advanced shipyards in the world. Its U.S. business has grown so quickly that jobs have surged from 800 to 3,300 in the last two years.
It is one of the few offshore prime contractors for the U.S. Navy and has two Navy contracts totaling $5.1 billion.
If many Americans will soon have the possibility of good jobs, the federal, state and local tax revenues will gain and this will help solve American’s debt woes.