Reshoring declarations are amping up, as more companies look to return operations to the United States from overseas.
Corporate reshoring announcements jumped 17% in the fourth quarter compared with the prior quarter and are now tracking nearly 300% higher than the fourth quarter of 2021, according to UBS.
In fact, reshoring and foreign direct investments jobs reached a record of at least 360,000 jobs last year, according to the Reshoring Initiative.
The move back to the U.S . can also be seen in corporate earnings, said Ron Graziano, managing director of global accounting and tax for Credit Suisse.
The company's equipment is needed for big semiconductor manufacturing plants as companies test chips as they are produced, Snyder said.