Hoping For an Industrial Rebound

France’s deindustrialization is part of a long-term trend. The share of manufacturing in value added has fallen from about 16% in the early 2000s to nearly 10% today (INSEE), while industrial employment has declined by about 900,000 jobs since the 1990s (OCDE). The recent rebound, linked to the post-COVID recovery, remains limited and fragile.

Reindustrialization measures face structural limitations. The research tax credit (RIC), which costs over €7 billion annually, remains poorly targeted and has little correlation with the establishment of industrial activities across the country (Cour des comptes). Furthermore, certain policies have supported the adjustment of mature industries without promoting innovative relocations.

In a context of fragmented value chains (International Monetary Fund), the challenge is now strategic: identifying and controlling the critical segments - the chokepoints - that shape the balance of technological power. Reindustrialization thus requires more precise targeting of public policies and a close integration of innovation, production, and economic sovereignty.