The U.S. is imposing heavy tariffs to reshore manufacturing of the things we buy. This watershed change in the economic landscape is creating risks of inflation, higher consumer costs and a recession.

However, these fractures in the economy are also opening possibilities for building a more equitable industrial base that we should seize.

Local and state governments control many of the public tools for supporting industrial growth, including land use control, utility and transportation infrastructure, tax policies, economic development incentives, and worker training.

Using these tools intelligently can put a thumb on the right side of the scale. This includes, recognizing existing strengths, understanding supply chains, studying spin-offs from research centers, and red-flagging undesirable externalities from some industries.