U.S. Bank Equipment Finance Sponsors Reshoring Initiative
The company helps members of the initiative to facilitate the acquisition of new equipment.
Posted: January 15, 2015
The Reshoring Initiative (Chicago, IL) has announced that U.S. Bank Equipment Finance renewed its sponsorship to support the Initiative’s goal of bringing manufacturing jobs back to the United States.
“We are delighted that U.S. Bank Equipment Finance, a financial leader in the manufacturing arena, has decided to renew its sponsorship to help the Initiative drive the reshoring trend,” said Harry Moser, the president of the Reshoring Initiative. “We encourage companies considering reshoring or retention of work to contact U.S. Bank Equipment Finance, which offers a wide range of specialized financing solutions for manufacturing firms.”
“If companies make their reshoring/offshoring decisions based on an ex-works price difference of perhaps 25 percent, investment in equipment, lean and training seems impossible. If they, instead, make their decision using a more sophisticated metric such as our Total Cost of Ownership (TCO) Estimator and see there is today only a five percent difference, the ROI on investment rises dramatically. Our analysis of user data shows that about 25 percent of what has been offshored would come back now if companies used our free TCO Estimator to compare domestic to offshore manufacturing and sourcing. Investment in automation and training would increase this percentage,” Moser continued.
The Reshoring Initiative assists manufacturers in understanding the benefits of reshoring and U.S. Bank Equipment Finance works with these manufacturers to facilitate the acquisition of new equipment to help maintain their competitive advantage. Currently 35 organizations, ranging from industry associations to trade publications to machine tool builders, sponsor the Reshoring Initiative.
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