Three industry organizations are teaming up on a "re-shoring" initiative aimed at bringing back lost manufacturing jobs by connecting big manufacturers with domestic suppliers.
The effort includes a "Re-shoring Fair" event set for May in California during with OEMs will have access to finding manufacturing partners.The three groups, the Precision Metalforming Association, Association for Manufacturing Technology and the National Tooling and Machining Association believe that companies can reduce costs and gain benefits and that 'back-shoring' is a way to create new jobs, reduce imports and increase U.S. exports.
"The White House and Congress seem to announce each week a new plan to 'Save U.S. jobs, especially manufacturing jobs,'" stated the groups in a press statement on the initiative. "Re-shoring, also called 'back-shoring' and 'on-shoring,' is a private sector approach to reduce imports (and our trade deficit), increase our 'net exports' and create jobs. The goal is to help educate manufacturers on how re-shoring can strengthen innovation, reduce risks and reduce IT network and bandwidth demand," stated the groups.
The initiative's kickoff, "The 2010 NTMA/PMA Contract Manufacturing Purchasing Fair: Re-Shoring to Bring U.S. Manufacturing Jobs Back Home," will be held May 12 at the Hyatt Regency Irvine Hotel, Irvine, Calif.