Meet The Early Movers In America's $3T Push For Manufacturing Construction
Manufacturing facilities have broken ground in a burst over the last two years, helped along by incentive programs that span presidencies, with President Donald Trump’s latest rounds of tax breaks passed through the One Big Beautiful Bill Act specifically aimed at unleashing their development.
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Some of what is breaking ground today is leveraging benefits from former President Joe Biden’s CHIPS and Science Act, but Trump’s One Big Beautiful Bill Act and the ongoing trade war have also driven firms to bring manufacturing stateside. Biden’s other policy package, the Inflation Reduction Act, has largely been sidelined by the administration that inherited it, but the CHIPS Act has continued to ride the wave of monumental demand for digital infrastructure amid the mass deployment of artificial intelligence, said Craig Van Pelt, who leads research at Cresa.
“The CHIPS Act is a huge deal, one of the biggest financial packages we've ever done in the United States, but there's a long way to go from permitting and site preparation to active construction and production,” he said. Republicans’ One Big Beautiful Bill Act added a raft of new incentives to build new factories, not just for chip fabricators but for the broader manufacturing sector.