IAMC News Briefs—Week of March 27, 2023
By John Salustri
RESHORING INITIATIVE—Last year saw a record-breaking 364,000 jobs added to organizations investing in reshoring. This is up from the 238,000 posted for 2021. The count since 2010 now approaches 1.6 million. Two major drivers of the push have been the Inflation Reduction Act and Chips and Science Act. “The underlying trend is driven by the recognition that, in many cases, the total cost of offshoring exceeds that of sourcing domestically.” according to the Reshoring Initiative’s 2022 Data Report. Attendees at last year’s Fall Forum in Detroit will remember the initiative’s founder, Harry Moser, sharing insights on the reshoring trend.
https://reshorenow.org
COMMERCIAL PROPERTY EXECUTIVE—Queen Creek, AZ, a Phoenix suburb, is about to get a major infusion of industrial business as Seoul-based LG Energy Solution plans its next big move. In fact, at $5.5 billion, LG’s vision for a battery manufacturing campus is being touted as the largest single investment in a North American battery manufacturing plant to date. Later this year, when LG breaks ground, two facilities will begin to rise: a cylindrical battery operation for electric vehicles (EV) and a separate asset for lithium iron phosphate (LFP). The facilities will have capacities of 27GWh and 16GWh, respectively.
https://www.commercialsearch.com/news/lg-energy-solution-to-build-5-5b-ev-battery-complex/
SUPPLY CHAIN DIVE—A newly forged trade deal between the US and Japan is designed to ease supply chain hassles as they impact EV batteries. Highlights of the deal include an agreement not to impose duties on critical minerals; best practices for reviewing investments from foreign organizations within their borders; and information sharing and enforcement of labor rights in mineral extraction and processing.
https://www.supplychaindive.com/news/us-japan-trade-deal-ev-battery-materials-lithium/646179/?utm_source=Sailthru&utm_medium=email&utm_campaign=Issue:%202023-03-29%20Supply%20Chain%20Dive%20%5Bissue:49165%5D&utm_term=Supply%20Chain%20Dive
NATIONAL ASSOCIATION OF MANUFACTURERS—NAM’s Q1 Manufacturers’ Outlook Survey reveals a bullish attitude toward European trade. In fact, of those already invested in international commerce, nearly two-thirds rated Europe as key to their business, and 77.7% would support the US launching “market-opening trade agreement negotiations” with European nations. Closer to home, fiscal burdens are showing their teeth. More than 90% of respondents point to higher taxes as the culprit limiting workforce expansion, while 93.9% point to increased regulatory pressures hobbling their ability to invest in people, equipment and facilities.
https://www.nam.org/2023-first-quarter-manufacturers-outlook-survey/
TRANSPORT DIVE—The Clean Freight Coalition is a newly forged initiative among trucking associations to, “assure affordable and reliable freight transportation and protect the nation’s supply chain.” The goal is to support the transition to cleaner fuels while resisting unrealistic timelines. As Chris Spear, president and CEO of American Trucking Associations told Transport Dive: “We’re not saying no. But we are trying to inject some common sense, because ... our ability to service the economy is going to be compromised. And that narrative has to get loud right now.” Other groups in the coalition are: The American Truck Dealers, the National Tank Truck Carriers, the Truck & Engine Manufacturers Association and the Truckload Carriers Association.
https://www.transportdive.com/news/clean-freight-coalition-trucking-groups-zero-emissions-stratregy-advocacy/646081/?utm_source=Sailthru&utm_medium=email&utm_campaign=Issue:%202023-03-28%20Transport%20Dive%20%5Bissue:49143%5D&utm_term=Transport%20Dive