The reshoring story has been told primarily as a national security argument. Companies bring production back to the United States to reduce their exposure to disruption, shorten their logistics chains, and capture incentives tied to domestic manufacturing. JP Conte reads the same data through a different lens: as a sourcing document for technology investment.

Companies announced 244,000 manufacturing jobs tied to reshoring and foreign direct investment in 2024. More than 2 million such positions have been announced since 2010. U.S.-headquartered companies outpaced foreign direct investment by the widest margin on record that year, and roughly 88% of last year’s announced positions were concentrated in high or medium-high tech sectors, led by computer and electronics, electrical equipment, and transportation. New domestic plants in those categories can’t open without control software, automation hardware, and supply-chain coordination tools.

A July 2026 Dataconomy profile examined the industrial technology position held by Jean-Pierre Conte, managing partner of a San Francisco middle-market private equity firm and founder of Lupine Crest Capital. The piece traced his argument that reshoring converts a policy objective into years of durable order flow for technology suppliers. It’s a different read of the same headlines most investors are glancing at.

The durability piece matters for the investment style Conte is associated with. Patient capital that holds businesses across long periods needs its portfolio companies selling into stable, multiyear demand streams. A new domestic plant is expensive to build and more expensive to shut down. Once installed, the software platforms managing its production schedules, equipment health, and quality inspections aren’t replaced casually. Reshored U.S. facilities are, in that sense, committed customers for their technology suppliers for a decade or longer, giving those suppliers the revenue visibility that supports careful, long-term ownership.