10 Site Selection and Economic Development Takeaways from the COVID-19 Crisis
Friday, May 15, 2020
1. Over extended and overly risky supply chains are no longer tolerable. Coronavirus is providing new and forceful momentum for the reshoring of manufacturing investment back to the U.S. from China and elsewhere. Our nation’s medical devices and biopharma sector — now dangerously concentrated in China — must be the first in line to disinvest there and reinvest back here in the States. Currently, less than 30% of active pharmaceutical ingredient (API) -producing facilities are in the U.S. - while the number of Chinese facilities has more than doubled since 2010. The recent bipartisan bill introduced by Senator Blackburn (R-Tennessee) and Senator Menendez (D-New Jersey) to increase U.S. drug production underscores this dangerous state of affairs.