Accelerating Reshoring Strategies Spur CEOs To Modernize America’s Vast Manufacturing Industry, The Latest “Building American Manufacturing Resilience” Poll With Forbes And Zogby Reveals
Xometry, Inc. Nearly Two-Thirds Believe America’s Vast Manufacturing Industry Can Solve The World’s Supply Chain Concerns Half of American CEOs Plan To Further Reshore Operations In 2023 More Than 70% Of CEOs Are Investing In Automation, Digital Workflows And R&D, And More Than Half Are Investing In Artificial Intelligence ROCKVILLE, Md., and NEW YORK, Jan. 10, 2023 (GLOBE NEWSWIRE) — More than half of American CEOs (55%) whose companies depend on manufacturing to produce and deliver their goods have plans to reshore their operations – and nearly all of those CEOs (95%) said they would do so this year. The vast reshoring effort is also fueling a new modernization wave, with CEOs investing in robotics, automation, and digital workflow tools as they ramp domestic production. The findings are the result of the latest quarterly survey on American manufacturing resilience released by Xometry in a joint effort with Forbes and powered by veteran polling firm John Zogby Strategies. Tracking CEO and decision-maker sentiment at more than 150 leading companies nationally, the quarterly survey reveals executives believe supply chain concerns will persist well into the foreseeable future. Nearly 90 (89%) don’t expect supply chain disruptions to abate any time soon, and nearly two-thirds of those CEOs, or 64%, agree that there is enough manufacturing capacity in America to address the world’s supply chain concerns. “Major legislation like the CHIPS and Science Act, the Inflation Reduction Act and the Infrastructure law helped buoy reshoring in 2022, and we expect that trend to accelerate in 2023 as companies further build supply chain resilience,” said Randy Altschuler, CEO of Xometry. “CEOs recognize that tapping into America’s vast manufacturing infrastructure can help solve most of the world’s supply chain problems. As they bring production back to the States, CEOs are also modernizing shops across the country, deploying digital workflow technologies, investing in new processes, and embracing automation.” A full suite veteran survey research company known for accuracy, quick turnaround and vast experience polling in 80+ countries covering a wide sector including politics, market research, branding, and trendspotting. Learn more at . (NASDAQ:XMTR) powers the industries of today and tomorrow by connecting the people with big ideas to the manufacturers who can bring them to life. Xometry’s digital marketplace gives manufacturers the critical resources they need to grow their business while also making it easy for engineers and purchasers at small and large enterprise companies to tap into global manufacturing capacity and create locally resilient supply chains. Press contacts:Illume PRMatthew HutchisonMatthew.Hutchison@Xometry.com
