(The Conference Board: New York) -- The number of U.S. companies with an offshoring strategy has more than doubled from 2005 to 2008 and very few plan to relocate activities back to the United States, according to Duke Offshoring Research Network's fifth-annual report on offshoring trends, published in collaboration with The Conference Board.

Last year, more than 50 percent of companies had a corporate offshoring strategy in place, up from 22 percent in 2005. Sixty percent of companies currently offshoring say they have aggressive plans to expand existing activities.

The report also confirms that globalization of innovation—the major finding of last year's report—is continuing at an increased rate in all areas of industry. Speed to market and the domestic shortage of science and engineering talent are two key drivers for offshoring projects.

The report is a collaborative effort between The Conference Board and the Offshoring Research Network at the Duke University Center for International Business Education and Research. The survey, now in its fifth year, examines all aspects of offshoring—including drivers, risks, location and delivery models, performance outcomes, and future plans—for a wide range of companies and industries in the United States, including financial services, manufacturing, software companies, and technical/professional services.

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