Faced with rising costs, General Electric is moving production of its new energy-efficient water heater halfway around the world. The country it’s leaving? China. The one it’s bringing 400 jobs and a newly renovated factory? The United States.
A small but growing band of U.S. manufacturers — including giants such as General Electric (GE), NCR (NCR) and Caterpillar (CAT) — are turning the seemingly inexorable offshoring movement on its head, bringing some production to the U.S. from far-flung locations such as China. Others that were buying components overseas are switching to U.S. suppliers.