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A boom in new factory construction in the US. IRA is working

A boom in new factory construction in the US. IRA is working

The Inflation Reduction Act and the impacts of the pandemic and geopolitics on supply chains are leading to a literal boom in the construction of new

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The Inflation Reduction Act and the impacts of the pandemic and geopolitics on supply chains are leading to a literal boom in the construction of new industrial facilities in the US.

Spending on factory construction is at a record level, thanks to clean energy boosts in the IRA and efforts to redirect supply chains to the United States, especially in semiconductors and the supply of critical materials for electric vehicles and renewable energy, according to analysts and industry officials.

Manufacturing-related construction expense reached a record $108 billion in 2022, according to Census Bureau data cited by the Wall Street Journal.

CHIPS and Science Act and IRA are expected to lead to the creation of new manufacturing activities and hundreds of thousands of jobs, and some estimates already point to increased demand for clean energy jobs.

 

Source: Scenarieconomici.it 

Traduzione in inglese a cura di Tiziana Origgi, Monica Origgi e Barbara conforti

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