COVID-19, tax and other incentives, drive new look at re-shoring
The COVID-19 crisis has created supply chain challenges for companies across all industries, but especially for manufacturers and pharmaceutical companies. In this podcast, Johnathan Eaton, who heads up Grant Thornton’s supply chain advisory services, Jeff French, who directs our manufacturing practice, and Lisa Walkush, who leads services for our life sciences and pharmaceutical clients, discuss how companies are reacting to those challenges and why many are considering reshoring operations. In fact, a recent Bank of America study found that companies across 22 industry segments and $22 trillion in market capitalization are looking at moving operations back to the US.
Companies are taking a close look at reshoring operations for a variety of reasons, including:
- Tax incentives created by the 2017 tax reform legislation
- Tariffs and trade instability
- Escalating supply chain risks
- A bipartisan appetite for legislation encouraging repatriating operations
Listen to our podcast to learn more.