Reshoring creating small business boom in South and Midwest

Men and women in construction gear watch a speech from President Biden behind a big steel beam and construction equipment in the background. (Credit: Rebecca Noble—Getty Images)

Good morning. Greg McKenna here filling in for Sheryl Estrada, who’s in Atlanta at Fortune Impact Initiative 2024. The idea of "reshoring"—bringing work back to American shores—has been all the rage in many corners of corporate America, and it’s already creating U.S. jobs.

Part of this is due to fiscal stimulus, including the $1.2 trillion bipartisan infrastructure deal in 2021 or billions of dollars in additional investment mobilized by the CHIPS and Inflation Reduction Acts. Intel’s new semiconductor plants in Chandler, Ariz., worth a combined $30 billion, or Samsung’s $17 billion foundry in Texas are the types of projects that might come to mind.