U.S. Bank Equipment Finance Sponsors the Reshoring Initiative Helping to Bring Jobs Back to the United States
Today the Reshoring Initiative announced that U.S. Bank Equipment Finance renewed its sponsorship to support the Initiative’s goal of bringing manufacturing jobs back to the United States.
“We are delighted that U.S. Bank Equipment Finance, a financial leader in the manufacturing arena, has decided to renew its sponsorship to help the Initiative drive the reshoring trend,” said Harry Moser, president of the Reshoring Initiative. “We encourage companies considering reshoring or retention of work to contact U.S. Bank Equipment Finance, which offers a wide range of specialized financing solutions for manufacturing firms.”
“If companies make their reshoring/offshoring decisions based on an ex-works price difference of perhaps 25 percent, investment in equipment, lean and training seems impossible. If they, instead, make their decision using a more sophisticated metric such as our Total Cost of Ownership (TCO) Estimator and see there is today only a 5 percent difference, the ROI on investment rises dramatically. Our analysis of user data shows that about 25 percent of what has been offshored would come back now if companies used our free TCO Estimator to compare domestic to offshore manufacturing and sourcing. Investment in automation and training would increase this percentage,” Moser continued.
The Reshoring Initiative assists manufacturers in understanding the benefits of reshoring and U.S. Bank Equipment Finance works with these manufacturers to facilitate the acquisition of new equipment to help maintain their competitive advantage.
Currently 35 organizations, ranging from industry associations to trade publications to machine tool builders, sponsor the Reshoring Initiative.
About The Reshoring Initiative:
A 47-year manufacturing industry veteran and retired President of GF AgieCharmilles, Harry Moser founded the Reshoring Initiative to move lost jobs back to the United States. For his efforts with the Reshoring Initiative, he was named to Industry Week magazine’s Manufacturing Hall of Fame in 2010.
To learn more about the Reshoring Initiative and how to become a sponsor, please visit:
www.reshorenow.org
Or contact:
info@reshorenow.org
