May 20, 2012 (San Diego’s East County) – Two thirds of big U.S. manufacturers have moved their factories in the past two years—and the most popular destination is the U.S. Financial Times reports.
The trend appears to be a positive and dramatic response to President Barack Obama’s plan to offer tax incentives for companies that return their operations to the U.S., while imposing tax penalties on U.S. companies that keep jobs outsourced overseas.
Among the 65% of top executives who said their company is moving operations, 40 percent said they are moving those jobs back to America, compared to 28 percent moving to China.
Results are from a survey by the consulting firm Accenture, which provides industry-wide empirical wide evidence of “reshoring”, or bringing back jobs formerly outsourced. General Electric is the most prominent example, but there are many more.