Jacksonville, Florida is in an ideal position to take advantage of the returning manufacturing trade, claims strategist Jeff Korzenik.
Working as the chief investment strategist for Fifth Third Bank, Korzenik explained how overseas trade returning to the US will prove beneficial to the overall recovery of the national economy, and more specifically to Jacksonville. He spoke at an event held on 1st February, which was attended by bankers and other guests.
Although the country's financial difficulties have yet to be overcome, there are numerous factors indicating definitive signs of economic recovery. One of these factors is the increase in reshoring being seen across the country.
With competitive wages, flexible labor laws, a more advanced infrastructure and intellectual property protections, manufacturers are bringing business back to the homeland. At one time, they would have found it more financially viable and convenient to develop products outside America.
According to Korzenik, companies are looking towards areas where a solid infrastructure is securely in place, and Jacksonville is said to fit the bill.
Not only does Jacksonville boast copious manufacturing facilities and employment but also there are many signs to suggest that business growth is achievable in the area; for example, improvements evident in the housing market serve to highlight economic growth in Jacksonville and Florida in general, which is appealing to those considering a business move to the area.
Korzenik concluded: "As we accelerate, good things start to happen in the economy." This sentiment is certainly being echoed in the state of Florida amid a wave of new investments in the area, which are encouraging and supporting the ongoing economic growth.
