Reflections Report:
A Year of Learning, Connection and Possibility

America’s industrial economy is at a pivotal moment. After decades of offshoring and underinvestment, economic, geopolitical, and supply chain pressures are driving a renewed commitment to domestic production and rebuilding the nation’s infrastructure. This shift is reshaping how—and where—the country builds, makes, and invests. 

The Industrial Supply Chain Forum was created in response to this moment. It serves as a platform for insight, dialogue, and solutions, helping translate large-scale investments into practical outcomes for small businesses, workers, and communities.

Reshoring and Reinvestment in American Industry 

A wave of public and private investment is reshaping the industrial landscape across the country. Capital is flowing back into domestic manufacturing while communities invest in modernizing infrastructure, expanding the electric grid, and preparing future-ready sites for advanced industries. Together, these forces are accelerating reshoring, strengthening regional economies, and creating new opportunities—and demands—for American businesses and workers. 

Recent commitments underscore the scale and momentum to reshore manufacturing: 

• Stellantis announced a $13B, four-year investment to expand U.S. production—adding more than 5,000 jobs across Illinois, Ohio, Michigan, and Indiana and increasing vehicle output by 50%, making it the largest U.S. investment in the company’s history. 

• GE Appliances committed $490M to reshore washer and dryer production from China, creating 800 jobs in Louisville, KY, and modernizing operations with automation and robotics under its “zero-distance” manufacturing strategy. 

• Intel is investing over $20 billion in new semiconductor fabs in Ohio, positioning the state as a major U.S. chip manufacturing hub. 

This resurgence in manufacturing is unfolding alongside a broader effort to modernize the nation’s infrastructure. Through the Infrastructure Investment and Jobs Act (IIJA), historic levels of federal funding are supporting upgrades to roads, bridges, ports, broadband, and the electric grid. These investments not only address aging infrastructure but also enable communities to prepare future ready sites capable of supporting advanced manufacturing, data centers, and the growing power demands of artificial intelligence and other frontier technologies.

Large investments—whether major industrial projects or global events—also often spark broader growth and development in communities. In Los Angeles, preparations for the 2026 World Cup and the 2028 Olympic and Paralympic Games are expected to generate up to $30 billion in regional economic activity, creating key opportunities in construction and infrastructure development. Similarly, in upstate New York, Micron’s planned $100 billion investment is driving the need for affordable workforce housing, improved infrastructure, and stronger local supply chains to support long-term growth.

Addressing Headwinds and Barriers

With historic levels of capital flowing through the economy, the focus now shifts to delivering results. As manufacturing expands and infrastructure projects move forward, success will depend less on the size of investments and more on our ability to execute—measured by economic output, productivity, and capacity in industrial supply chains. Small and mid-sized businesses that supply critical goods and
services sit at the center of this challenge.

Recent economic signals reinforce the urgency. In 2025, manufacturing activity pulled back from recent highs amid declining new orders, trade uncertainty, and policy disruptions, while manufacturing employment continued its long-term decline, with an estimated loss of 33,000 jobs year over year. Construction—essential to supporting manufacturing growth—also began to soften. Manufacturing and data centers alone accounted for 94% of the increase in 2024 nonresidential construction spending. However, comparable spending in August 2025 was 1.6% lower than in the previous year, suggesting early signs of stagnation.

Without large capital reserves or reliable access to capital, even modest slowdowns can quickly strain cash flow, forcing firms to delay investments, reduce staff, or close altogether. Further, when larger companies tighten budgets, spending with smaller suppliers is often among the first cuts, weakening capacity across local supply chains.

Small and mid-sized businesses often feel these pressures first. Without large capital reserves or reliable access to capital, even modest slowdowns can quickly strain cash flow, forcing firms to delay investments, reduce staff, or close altogether. Further, when larger companies tighten budgets, spending with smaller suppliers is often among the first cuts, weakening capacity across local supply chains.

Longstanding structural barriers and broader economic uncertainty compound these challenges. Many small businesses lack the capital needed to modernize operations, adopt new technologies, or meet changing contract requirements, while financing systems frequently overlook mid-sized firms seeking to grow. As manufacturing becomes more capital-intensive and technology-driven, expectations rise faster than the systems designed to support adoption. Slower growth and tighter margins further limit resources for innovation, leaving many firms focused on short-term survival rather than long-term opportunity.
Head of Industrial Supply Chain Forum and Senior Director, Next Street