“Production costs in so-called low-pay countries have increased and over time approached EU levels. That is true, particularly for manufacturing with high levels of automation, such as advanced manufacturing processes in electronics production or the production of medical technology and pharmaceuticals. “In those cases, wage cost differences are so small that there are no longer […]

Geographic proximity to industrial centers is crucial in this strategy. Thus, several Latin American countries are emerging as prime destinations for nearshoring. The Inter-American Development Bank (IDB) estimates that nearshoring could boost annual exports of goods and services in Latin America and the Caribbean by close to $78 billion in the medium term. The automotive, […]

Supply chain executives of Fortune 500 companies are witnessing a significant shift in global manufacturing: production is increasingly returning to North America, driven by a combination of economic, geopolitical, technological and environmental factors. In 2023, Mexico overtook China to become the largest trading partner of the United States (Figure 1), accounting for 15.7% of total […]

Ørsted and Salt River Project (SRP) celebrated the official commencement of the Eleven Mile Solar Center, a 300-MW solar project and 300-MW/1,200-MWh battery energy storage system (BESS) in Pinal County. The project is part of Ørsted’s $20 billion dollar investment in building out American energy generation. Eleven Mile Solar Center is SRP’s largest co-located solar […]