This is a good first step. However, I'm afraid that the manufacturing companies will pick up and go to countries that are not in the EU like China, leaving unemployment behind.
What governments may do for these corporations to entice them to stay where they are is to allow lower salaries, less workplace and pollution regulations, hire less workers or import people who will work for less like they've done in the US. But this may not be enough. Corporations might move to places with little or no taxation. For this to stop it needs to be done on a global scale.
Also, besides making them pay their fair share of taxes wherever they are located, something must be done to counter the bribes, graft, absence of environmental regulations, low pay, etc., that attract these corporations offshore.
Corporations love to set up in dictatorships and shelter their profits in offshore banks. Maybe they'll come back to America.