The steel plant that saved Vance’s family from poverty is getting $500M from Biden. One worker says that ‘doesn’t really change anything’
“The Biden administration grant aims to transform the mill from one of the dirtiest in the country to one of the cleanest.”
Manufacturing Jobs?
All Employees, Manufacturing (MANEMP)
Construction’s manufacturing boom: Mapping the biggest facilities underway in the US
“New projects this month include a $4.1 billion healthcare manufacturing center in Clayton, North Carolina, and a $620 million solar facility in Tulsa, Oklahoma. Published August 7, 2023 • Updated July 18, 2024”
The Eyepopping Factory Construction Boom in the US
“In October, $18.5 billion were plowed into construction of manufacturing plants in the US ($246 billion annualized), up by 73% from a year ago, by 136% from two years ago, and by 166% from October 2019. The relentless pace of the month-to-month increases is what’s amazing – from $12.5 billion spent in January to $18.5 billion in October.
The construction boom started in early to mid-2021, and since then, spending has tripled. About a year later, in July 2022, Congress passed a package of subsidies for select manufacturing industries to build factories, such as semiconductor makers (they’ll get $52 billion) and EV battery makers.
But the wheels of government turn slowly, approvals take their time, disbursements of funds for large projects takes time, so the flow of these government funds would just be the first trickle in 2023. The bulk is still coming.”
2024 manufacturing industry outlook
“For example, the investments in semiconductor and clean technology manufacturing are nearly double the commitments made for these sectors throughout 2021, and nearly 20 times the amount allocated in 2019.2 Since passage of the IRA, close to 200 new clean technology manufacturing facilities have been announced—representing US$88B in investment—which are expected to create over 75,000 new jobs.3 There has been a significant increase in construction spending in the manufacturing industry after the passage of the IIJA, CHIPS Act, and IRA (figure 1). As of July 2023, annual construction spending in manufacturing stands at US$201 billion, representing a 70% year-over-year increase and setting the stage for further industry growth in 2024.4“
CHIPS ACT, Infrastructure Bill and Inflation Reduction Act impacts are beginning to be felt
FACT SHEET: One Year after the CHIPS and Science Act, Biden-Harris Administration Marks Historic Progress in Bringing Semiconductor Supply Chains Home, Supporting Innovation, and Protecting National Security
U.S. Semiconductor Renaissance: All the Upcoming Fabs
“Everything we know about new chip manufacturing facilities in America.”
The U.S. share of global semiconductor manufacturing capacity has decreased from 37% in 1990 to 12% in 2021, according to the Semiconductor Industry Association (SIA), but some 47% of the chips sold worldwide are designed in the U.S. This disparity poses major risks to American national security and the economy, which is why both industry insiders and politicians recently began to call for building semiconductor fabs in the USA.
Their calls have been heard, and today five major chipmakers — GlobalFoundries, Intel, Samsung Foundry, TSMC, and Texas Instruments — are building new semiconductor production facilities in the U.S. These efforts will inevitably be bolstered by a new wave of funding provided by the newly-approved CHIPS act. This U.S. subsidy initiative will pump $52 billion into new US-based chip fabs and provide fresh tax incentives. Those funds will spur a wave of new investment over the coming years, and its sorely needed.”
