Savills
September 2024 - Industrial
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The rise in protectionist policies will sustain reshoring efforts in 2025 and beyond
2025 Outlook
01
02
03
For more information, please contact us:
Mark Russo
Vice President, Head of Industrial Research
mrusso@savills.us
Gregg Healy
Executive Vice President, Head of Industrial Services
ghealy@savills.us
savills.us
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Tennessee
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Real estate market impacts from large-scale projects are still ahead, with many yet to open
Mexico’s manufacturing growth will continue to accelerate, driven by location and labor advantage
Special thanks to the collaborative efforts of all cross-function contributors who helped bring the 2024 Savills Manufacturing Report to life, including our data partners Harry Moser and Reshoring Initiative.
2023 - Industrial
Savills Manufacturing Report
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Manufacturing
Report
Manufacturing Hot Spots by Job Announcements
Click on the highlighted state below to view a detailed state dashboard
67k
jobs
#3
51k
#8
46k
#9
62k
#4
44k
#10
60k
#5
69k
#2
U.S. Manufacturing Job Announcements by Industry Vertical
Reshoring & Foreign Direct Investment (FDI)
Manufacturing announcements are slowing in 2024 but remain historically elevated
Labor and real estate costs are stabilizing as market conditions soften
Clean energy projects account for a growing share of recent announcements
Megatrends
Between 2021 and 2024, 65% of reshoring job announcements were tied to EVs & batteries, chips, clean energy or biomanufacturing.
72k
#1
2021-2024
Back to Map
Source: Reshoring Initiative
Click on the highlighted region below to view a detailed dashboard
Canada
Mexico
Executive Vice President, Head of Industrial Services North America
Vice President, Head of Industrial Research North America
Research Analyst, Industrial North America
James Cataldo
jcataldo@savills.us
tslater@savills.ca
Research Associate North America
Thom Slater
cbauers@savills.us
Senior Research Analyst, Industrial North America
Chris Bauers
eodowd@savills.us
Project Associate North America
Elizabeth O’Dowd
Port - East Coast
West Coast
Activity may slow in 2024 due to the economy, the presidential election and electric vehicle (EV) adoption
Senior Director, Head of Industrial Research
The need for supply chain resiliency will support the reshoring trend through 2024 and beyond
Markets adjacent to new manufacturing plants will see increased warehouse demand
Special thanks to the collaborative efforts of all cross-function contributors who helped bring the inaugural Savills Manufacturing Report to life, including our data partners Harry Moser and Reshoring Initiative.
65k
42k
41k
58k
36k
43k
#7
48k
#6
Trend
Between 2021 and 2023, 66% of reshoring job announcements were tied to EVs & batteries, chips, clean energy or biomanufacturing.
64k
December 2023 - Industrial
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2024 Outlook
Advanced industries are driving the recent U.S. manufacturing expansion
Large announcements are concentrated in Sun Belt and Midwest states
Access, infrastructure, labor, incentives and availability of land are driving location decisions
2021-2023
64,693
41,890
41,262
57,681
35,684
43,254
48,083
63,391
