The “Onshoring” Of The Obama Administration
While Governor Romney is fending off accusations of his role in exporting jobs overseas, there are some encouraging signs as a result of Obama Administration policies to curb carbon dioxide emissions.
Thanks in large part to stronger standards, American drivers no longer have to buy foreign if they want to trade in their gas guzzler for gas sippers. Fuel-efficiency is driving sales and jobs growth in the auto industry. And as demand grows, so does the business case to make fuel efficient cars and components in America.
Hybrid productions exemplify this trend. With U.S. hybrid sales booming (up 63% this year), Toyota and Honda are bringing production to the U.S. Most recently, Honda Motor Co. plans to invest $40 million and bring all global Civic Hybrid manufacturing to its Greensburg, Indiana manufacturing plant from Japan, creating 300 jobs by the end of the year.
Earlier this year, Toyota announced it would bring production of its Highlander mid-size SUV, including the Highlander Hybrid, to its Princeton, Indiana plant from its current plant in Japan.
Many people complain about the jobs lost as a result of regulations like these. And, indeed, there are some job losses. But there are also jobs gained, and you never hear the complainers talk about those.